Lithia Motors (NYSE:LAD) Given New $297.00 Price Target at Guggenheim

Lithia Motors (NYSE:LAD) had its price target lowered by Guggenheim from $320.00 to $297.00 in a research note issued to investors on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on LAD. The Goldman Sachs Group upped their price target on Lithia Motors from $300.00 to $334.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Bank of America upped their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Stephens reissued an overweight rating and set a $375.00 price target on shares of Lithia Motors in a research report on Wednesday, February 14th. Evercore ISI began coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They set an outperform rating and a $400.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on Lithia Motors from $298.00 to $315.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lithia Motors currently has an average rating of Hold and a consensus price target of $334.60.

Lithia Motors Stock Up 0.2 %

Shares of NYSE:LAD opened at $260.84 on Wednesday. The stock has a market capitalization of $7.18 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 2.17 and a beta of 1.58. The stock’s 50-day moving average price is $286.93 and its 200-day moving average price is $284.09. The company has a current ratio of 1.41, a quick ratio of 0.45 and a debt-to-equity ratio of 1.15. Lithia Motors has a 12-month low of $206.69 and a 12-month high of $331.96.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.11 by $0.13. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the company earned $9.05 EPS. Lithia Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Lithia Motors will post 35.35 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a yield of 0.77%. Lithia Motors’s dividend payout ratio is presently 5.51%.

Insider Activity

In related news, Director Shauna Mcintyre sold 135 shares of Lithia Motors stock in a transaction on Friday, February 16th. The stock was sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the sale, the director now owns 1,662 shares of the company’s stock, valued at $495,010.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Large investors have recently made changes to their positions in the company. State of Michigan Retirement System lifted its stake in shares of Lithia Motors by 3.0% in the 1st quarter. State of Michigan Retirement System now owns 6,787 shares of the company’s stock worth $2,042,000 after purchasing an additional 200 shares during the period. Sendero Wealth Management LLC boosted its stake in shares of Lithia Motors by 15.7% during the 1st quarter. Sendero Wealth Management LLC now owns 11,949 shares of the company’s stock worth $3,595,000 after acquiring an additional 1,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Lithia Motors by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,489 shares of the company’s stock valued at $749,000 after acquiring an additional 98 shares during the period. Bridge City Capital LLC increased its stake in shares of Lithia Motors by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 13,695 shares of the company’s stock worth $4,120,000 after purchasing an additional 108 shares in the last quarter. Finally, BTC Capital Management Inc. bought a new position in Lithia Motors in the 1st quarter worth $230,000.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.