Craig Hallum Cuts Lithia Motors (NYSE:LAD) Price Target to $310.00

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

A number of other research analysts also recently weighed in on the company. Guggenheim dropped their price target on Lithia Motors from $320.00 to $297.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. Wells Fargo & Company dropped their price target on Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a research note on Thursday. Stephens reaffirmed an overweight rating and set a $375.00 price target on shares of Lithia Motors in a research note on Wednesday, February 14th. 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. Finally, Evercore ISI initiated coverage on Lithia Motors in a research note on Wednesday, January 17th. They set an outperform rating and a $400.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $320.82.

Lithia Motors Stock Up 1.9 %

Shares of NYSE:LAD opened at $262.72 on Thursday. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 2.22 and a beta of 1.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 0.45. The business’s 50-day moving average is $282.64 and its 200-day moving average is $283.62. Lithia Motors has a 1 year low of $206.69 and a 1 year high of $331.96.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $8.44 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities research analysts predict that Lithia Motors will post 33.17 earnings per share for the current year.

Lithia Motors Increases Dividend

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

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,662 shares of the company’s stock, valued at $495,010.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Several institutional investors have recently modified their holdings of the business. FourThought Financial Partners LLC grew its holdings in shares of Lithia Motors by 2.4% in the fourth quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock valued at $530,000 after acquiring an additional 37 shares in the last quarter. Xponance Inc. grew its holdings in shares of Lithia Motors by 1.1% in the fourth quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after acquiring an additional 38 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Lithia Motors by 32.0% in the third quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock valued at $68,000 after acquiring an additional 56 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Lithia Motors by 0.3% in the third quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock valued at $5,054,000 after acquiring an additional 59 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Lithia Motors by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock valued at $3,510,000 after acquiring an additional 60 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.