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

Lithia Motors (NYSE:LAD) had its price objective decreased by Wells Fargo & Company from $290.00 to $248.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts have also recently commented on LAD. Guggenheim cut their price target on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group upped their target price on Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a report on Thursday, February 15th. Bank of America upped their price target on Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Morgan Stanley lifted their price objective on Lithia Motors from $220.00 to $230.00 and gave the company an underweight rating in a research note on Thursday, February 29th. Finally, Evercore ISI initiated coverage on Lithia Motors in a report on Wednesday, January 17th. They set an outperform rating and a $400.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $320.82.

Lithia Motors Trading Up 1.7 %

NYSE LAD traded up $4.38 on Thursday, hitting $262.11. 145,785 shares of the stock were exchanged, compared to its average volume of 221,307. The firm has a market capitalization of $7.22 billion, a P/E ratio of 7.61, a P/E/G ratio of 2.10 and a beta of 1.58. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.45 and a current ratio of 1.17. Lithia Motors has a 52-week low of $206.69 and a 52-week high of $331.96. The stock has a fifty day moving average price of $284.15 and a two-hundred day moving average price of $283.85.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the company earned $8.44 EPS. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Research analysts forecast that Lithia Motors will post 34.78 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.53 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.81%. Lithia Motors’s dividend payout ratio is 5.90%.

Insiders Place Their Bets

In other Lithia Motors 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 transaction of $40,208.40. Following the sale, the director now owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.79% of the stock is owned by insiders.

Institutional Trading of Lithia Motors

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Lithia Motors by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock valued at $929,679,000 after buying an additional 15,962 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Lithia Motors by 0.3% in the third quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company’s stock worth $200,414,000 after buying an additional 2,200 shares in the last quarter. FMR LLC increased its holdings in Lithia Motors by 10.3% during the 3rd quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after purchasing an additional 45,977 shares during the period. Norges Bank purchased a new position in Lithia Motors during the 4th quarter worth $123,976,000. Finally, Cadian Capital Management LP purchased a new position in Lithia Motors during the fourth quarter worth about $105,370,000.

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.