Lithia Motors (NYSE:LAD) Price Target Cut to $380.00 by Analysts at Guggenheim

Lithia Motors (NYSE:LAD) had its target price decreased by Guggenheim from $383.00 to $380.00 in a report published on Monday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on LAD. Bank of America boosted their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, June 16th. JPMorgan Chase & Co. dropped their price objective on shares of Lithia Motors from $335.00 to $315.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Wells Fargo & Company dropped their target price on shares of Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 30th. The Goldman Sachs Group started coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $340.00 price objective on the stock. Finally, Citigroup raised their price target on Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.00.

Lithia Motors Stock Performance

NYSE LAD opened at $292.80 on Monday. Lithia Motors has a 52-week low of $255.32 and a 52-week high of $405.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. The company has a market capitalization of $7.51 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.45 and a beta of 1.30. The company has a fifty day moving average of $322.89 and a 200-day moving average of $320.29.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, topping the consensus estimate of $9.78 by $0.46. The business had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. As a group, equities research analysts predict that Lithia Motors will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 8th. Lithia Motors’s dividend payout ratio (DPR) is 6.52%.

Insider Activity

In related news, Director Shauna Mcintyre sold 256 shares of Lithia Motors stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the completion of the sale, the director owned 1,376 shares in the company, valued at $403,236.80. This trade represents a 15.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of Lithia Motors by 114.6% in the 2nd quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock valued at $29,000 after purchasing an additional 47 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Lithia Motors by 1,383.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock valued at $30,000 after purchasing an additional 83 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Lithia Motors by 106.2% in the 2nd quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock valued at $45,000 after purchasing an additional 69 shares in the last quarter. eCIO Inc. bought a new stake in shares of Lithia Motors in the 1st quarter valued at about $55,000. Finally, NBC Securities Inc. bought a new stake in shares of Lithia Motors in the 1st quarter valued at about $59,000.

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.