Lithia Motors (NYSE:LAD) PT Lowered to $310.00

Lithia Motors (NYSE:LAD) had its target price cut by Craig Hallum from $350.00 to $310.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Lithia Motors from $220.00 to $230.00 and gave the company an underweight rating in a report on Thursday, February 29th. Stephens restated an overweight rating and issued a $375.00 price objective on shares of Lithia Motors in a report on Wednesday, February 14th. The Goldman Sachs Group boosted their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a report on Thursday, February 15th. Wells Fargo & Company reduced their price objective on shares of Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a report on Thursday. Finally, Bank of America boosted their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the company a buy rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Lithia Motors has an average rating of Hold and an average price target of $320.82.

Lithia Motors Trading Up 2.0 %

Shares of LAD stock traded up $5.19 on Thursday, hitting $262.92. 220,479 shares of the stock traded hands, compared to its average volume of 222,137. The firm’s 50-day moving average price is $284.15 and its two-hundred day moving average price is $283.85. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.45 and a current ratio of 1.17. The stock has a market capitalization of $7.24 billion, a PE ratio of 7.61, a PEG ratio of 2.10 and a beta of 1.58. Lithia Motors has a twelve month low of $206.69 and a twelve month high of $331.96.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing the consensus estimate of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.44 EPS. As a group, analysts anticipate that Lithia Motors will post 34.78 EPS for the current year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.53 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.12 annualized dividend and a yield of 0.81%. Lithia Motors’s dividend payout ratio (DPR) is 5.90%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following 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 SEC, which can be accessed through this hyperlink. 1.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds have recently added to or reduced their stakes in LAD. Norges Bank purchased a new position in Lithia Motors in the fourth quarter valued at approximately $123,976,000. Cadian Capital Management LP purchased a new position in Lithia Motors in the fourth quarter valued at approximately $105,370,000. Wellington Management Group LLP increased its stake in Lithia Motors by 413.6% in the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock valued at $21,450,000 after purchasing an additional 52,458 shares during the last quarter. FMR LLC increased its stake in Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock valued at $145,383,000 after purchasing an additional 45,977 shares during the last quarter. Finally, Boston Partners increased its stake in Lithia Motors by 67.5% in the fourth quarter. Boston Partners now owns 82,915 shares of the company’s stock valued at $26,734,000 after purchasing an additional 33,405 shares during the last quarter.

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.