Wells Fargo & Company Cuts Lithia Motors (NYSE:LAD) Price Target to $248.00

Lithia Motors (NYSE:LAD) had its target price dropped by investment analysts at Wells Fargo & Company from $290.00 to $248.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 0.51% from the company’s current price.

A number of other brokerages also recently commented on LAD. Guggenheim lowered their price target on shares of Lithia Motors from $320.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Stephens reaffirmed an “overweight” rating and issued a $375.00 price objective on shares of Lithia Motors in a research report on Wednesday, February 14th. Morgan Stanley raised their price target on Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. The Goldman Sachs Group increased their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Evercore ISI assumed coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Lithia Motors presently has an average rating of “Hold” and an average target price of $327.90.

Lithia Motors Price Performance

Shares of Lithia Motors stock traded down $1.60 during trading on Thursday, hitting $246.74. 60,072 shares of the company were exchanged, compared to its average volume of 213,135. Lithia Motors has a fifty-two week low of $206.69 and a fifty-two week high of $331.96. The company has a quick ratio of 0.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average price of $285.26 and a 200 day moving average price of $284.10. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 6.72, a P/E/G ratio of 2.24 and a beta of 1.58.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $8.44 earnings per share. On average, equities analysts expect that Lithia Motors will post 34.78 earnings per share for the current fiscal year.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the completion of the sale, the director now directly owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oak Thistle LLC bought a new stake in shares of Lithia Motors in the third quarter worth $325,000. Campbell Newman Asset Management Inc. increased its position in shares of Lithia Motors by 67.2% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 5,417 shares of the company’s stock worth $1,600,000 after purchasing an additional 2,178 shares during the last quarter. Xponance Inc. increased its position in shares of Lithia Motors by 3.4% in the 3rd quarter. Xponance Inc. now owns 3,454 shares of the company’s stock worth $1,020,000 after purchasing an additional 114 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Lithia Motors by 3.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,746 shares of the company’s stock valued at $1,697,000 after buying an additional 184 shares in the last quarter. Finally, California First Leasing Corp raised its position in shares of Lithia Motors by 27.0% during the 3rd quarter. California First Leasing Corp now owns 7,804 shares of the company’s stock valued at $2,305,000 after acquiring an additional 1,659 shares in the last quarter.

About Lithia Motors

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.