Lithia Motors (NYSE:LAD) Given New $355.00 Price Target at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its target price increased by JPMorgan Chase & Co. from $350.00 to $355.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company increased their price objective on Lithia Motors from $327.00 to $358.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Barclays initiated coverage on Lithia Motors in a research note on Wednesday, November 12th. They set an “overweight” rating and a $410.00 price target for the company. Evercore ISI boosted their price objective on Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Weiss Ratings lowered shares of Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, Benchmark reiterated a “buy” rating on shares of Lithia Motors in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $392.70.

Lithia Motors Price Performance

LAD opened at $332.19 on Friday. Lithia Motors has a fifty-two week low of $262.10 and a fifty-two week high of $405.14. The firm has a 50-day moving average of $325.57 and a 200 day moving average of $321.61. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21. The firm has a market cap of $8.06 billion, a P/E ratio of 9.62 and a beta of 1.18.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.97. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The firm had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the previous year, the company earned $8.21 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts expect that Lithia Motors will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 7th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Lithia Motors’s dividend payout ratio is currently 6.37%.

Insider Activity at Lithia Motors

In related news, Director Congdon Stacy Loretz sold 75 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $360.00, for a total transaction of $27,000.00. Following the completion of the transaction, the director owned 1,810 shares of the company’s stock, valued at approximately $651,600. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AGP Franklin LLC boosted its holdings in shares of Lithia Motors by 0.3% in the 3rd quarter. AGP Franklin LLC now owns 10,459 shares of the company’s stock worth $3,305,000 after purchasing an additional 34 shares in the last quarter. Arizona State Retirement System lifted its position in Lithia Motors by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 7,702 shares of the company’s stock worth $2,434,000 after buying an additional 34 shares during the last quarter. GAMMA Investing LLC boosted its stake in Lithia Motors by 9.2% in the fourth quarter. GAMMA Investing LLC now owns 403 shares of the company’s stock worth $134,000 after buying an additional 34 shares in the last quarter. M&T Bank Corp grew its position in Lithia Motors by 2.4% during the second quarter. M&T Bank Corp now owns 1,488 shares of the company’s stock valued at $503,000 after acquiring an additional 35 shares during the last quarter. Finally, Vident Advisory LLC grew its position in Lithia Motors by 4.6% during the second quarter. Vident Advisory LLC now owns 842 shares of the company’s stock valued at $285,000 after acquiring an additional 37 shares during the last quarter.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.