Citigroup Lowers Lithia Motors (NYSE:LAD) Price Target to $280.00

Lithia Motors (NYSE:LAD) had its price target reduced by Citigroup from $320.00 to $280.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently commented on LAD. Morgan Stanley lifted their price objective on shares of 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 lifted their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Craig Hallum dropped their price target on shares of Lithia Motors from $350.00 to $310.00 and set a buy rating for the company in a research note on Thursday. Evercore ISI assumed coverage on shares of Lithia Motors in a research note on Wednesday, January 17th. They set an outperform rating and a $400.00 price target for the company. Finally, Guggenheim dropped 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. One 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $320.82.

Lithia Motors Stock Performance

Shares of NYSE LAD opened at $262.72 on Thursday. 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 company has a market cap of $7.23 billion, a P/E ratio of 7.76, a P/E/G ratio of 2.22 and a beta of 1.58. The firm’s fifty day moving average is $282.64 and its two-hundred day moving average is $283.62. Lithia Motors has a 52-week low of $206.69 and a 52-week high of $331.96.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.58 billion. During the same period in the previous year, the business earned $8.44 earnings per share. The business’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, analysts anticipate that Lithia Motors will post 33.17 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.81%. 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. Lithia Motors’s payout ratio is 5.90%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were 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 directly owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithia Motors

Large investors have recently added to or reduced their stakes in the stock. Mariner LLC boosted its position in Lithia Motors by 4.1% in the 3rd quarter. Mariner LLC now owns 4,401 shares of the company’s stock valued at $1,300,000 after buying an additional 174 shares during the period. American Century Companies Inc. raised its holdings in shares of Lithia Motors by 33.7% in the 3rd quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock valued at $10,385,000 after purchasing an additional 8,862 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Lithia Motors by 95.6% in the 3rd quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock valued at $3,736,000 after purchasing an additional 6,181 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Lithia Motors by 93.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 9,412 shares of the company’s stock valued at $2,780,000 after purchasing an additional 4,541 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Lithia Motors in the 3rd quarter valued at about $4,608,000.

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.