Lithia Motors (NYSE:LAD) Price Target Cut to $390.00 by Analysts at Barclays

Lithia Motors (NYSE:LAD) had its target price decreased by analysts at Barclays from $410.00 to $390.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 16.86% from the company’s previous close.

LAD has been the topic of a number of other reports. Citigroup boosted their price target on Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on Lithia Motors from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Wells Fargo & Company upped their price target on Lithia Motors from $327.00 to $358.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Evercore ISI raised their price target on shares of Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Finally, Benchmark reiterated a “buy” rating on shares of Lithia Motors in a report on Thursday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $390.70.

Lithia Motors Stock Up 2.2%

Shares of LAD stock traded up $7.27 during trading hours on Wednesday, hitting $333.74. 12,339 shares of the company were exchanged, compared to its average volume of 208,623. Lithia Motors has a 52 week low of $262.10 and a 52 week high of $405.14. The company has a current ratio of 1.21, a quick ratio of 0.30 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average of $326.99 and a two-hundred day moving average of $320.91. The company has a market capitalization of $8.09 billion, a PE ratio of 9.65 and a beta of 1.18.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $9.50 EPS for the quarter, beating the consensus estimate of $8.53 by $0.97. The business had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.38 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.21 EPS. Analysts anticipate that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Congdon Stacy Loretz sold 75 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $360.00, for a total value of $27,000.00. Following the completion of the sale, the director owned 1,810 shares of the company’s stock, valued at approximately $651,600. This represents a 3.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Lithia Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Lithia Motors during the 4th quarter worth about $50,000. eCIO Inc. bought a new position in Lithia Motors in the 4th quarter valued at about $42,000. Whalen Wealth Management Inc. acquired a new stake in Lithia Motors during the fourth quarter worth approximately $471,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Lithia Motors by 37.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,605 shares of the company’s stock worth $2,527,000 after acquiring an additional 2,060 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Lithia Motors by 8.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,366 shares of the company’s stock worth $1,119,000 after acquiring an additional 274 shares during the period.

Lithia Motors Company Profile

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.