Lithia Motors (NYSE:LAD) Given New $335.00 Price Target at UBS Group

Lithia Motors (NYSE:LAD) had its target price lowered by equities research analysts at UBS Group from $440.00 to $335.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 16.47% from the stock’s previous close.

LAD has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Lithia Motors from $340.00 to $320.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company lifted their target price on shares of Lithia Motors from $306.00 to $395.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley lowered their price target on Lithia Motors from $358.00 to $310.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Bank of America raised their price objective on Lithia Motors from $350.00 to $417.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Lithia Motors currently has an average rating of “Moderate Buy” and a consensus price target of $402.60.

Lithia Motors Trading Down 1.7%

Shares of NYSE LAD traded down $4.89 during midday trading on Wednesday, hitting $287.62. The stock had a trading volume of 262,763 shares, compared to its average volume of 309,354. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.64 and a beta of 1.27. Lithia Motors has a 1-year low of $239.78 and a 1-year high of $439.49. The company has a quick ratio of 0.21, a current ratio of 1.00 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average price of $354.59 and a 200 day moving average price of $312.17.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, July 29th. The company reported $10.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.73 by $1.30. Lithia Motors had a net margin of 1.88% and a return on equity of 12.16%. The firm had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.64 billion. During the same quarter in the prior year, the company earned $10.24 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Lithia Motors will post 36 earnings per share for the current year.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Stacy Congdon sold 75 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $370.73, for a total transaction of $27,804.75. Following the transaction, the director directly owned 2,300 shares in the company, valued at $852,679. This represents a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Lithia Motors by 46.5% during the third quarter. Versant Capital Management Inc now owns 186 shares of the company’s stock valued at $54,000 after buying an additional 59 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Lithia Motors by 5.3% during the 2nd quarter. QRG Capital Management Inc. now owns 2,165 shares of the company’s stock valued at $629,000 after acquiring an additional 109 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Lithia Motors during the 2nd quarter valued at approximately $241,000. Tidal Investments LLC lifted its stake in Lithia Motors by 10.9% during the second quarter. Tidal Investments LLC now owns 3,694 shares of the company’s stock worth $1,073,000 after purchasing an additional 363 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Lithia Motors in the second quarter worth $4,811,000.

Lithia Motors Company Profile

Lithia Motors, Inc, doing business as Lithia & Driveway (NYSE:LAD), is an automotive retailer that operates a network of franchised dealerships and other vehicle-sales businesses. The company sells new and used vehicles from a broad range of automobile manufacturers, including domestic, import and luxury brands.

In addition to vehicle sales, Lithia & Driveway provides automotive financing and insurance products, maintenance and repair services, replacement parts, collision services and other related offerings.