Lithia Motors (NYSE:LAD) Price Target Raised to $350.00

Lithia Motors (NYSE:LAD) had its price objective increased by JPMorgan Chase & Co. from $320.00 to $350.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also commented on LAD. Bank of America cut their price objective on Lithia Motors from $500.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating for the company in a report on Wednesday, July 30th. Citigroup lifted their price objective on Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Guggenheim cut their price objective on Lithia Motors from $383.00 to $380.00 and set a “buy” rating for the company in a report on Monday, August 11th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.00.

Lithia Motors Stock Performance

Shares of LAD opened at $305.64 on Tuesday. The business’s fifty day simple moving average is $321.48 and its two-hundred day simple moving average is $315.39. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Lithia Motors has a 12 month low of $262.10 and a 12 month high of $405.67. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 0.63 and a beta of 1.28.

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

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 8th. This represents a $2.20 annualized dividend and a yield of 0.7%. Lithia Motors’s payout ratio is 6.52%.

Lithia Motors declared that its board has authorized a stock buyback plan on Tuesday, August 26th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 256 shares of Lithia Motors stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director directly owned 1,376 shares in the company, valued at approximately $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its position in Lithia Motors by 114.6% during the second 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. lifted its position in shares of Lithia Motors by 1,383.3% in the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock valued at $30,000 after acquiring an additional 83 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Lithia Motors by 106.2% in the second quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock valued at $45,000 after acquiring an additional 69 shares in the last quarter. eCIO Inc. purchased a new position in shares of Lithia Motors in the first quarter valued at about $55,000. Finally, CWM LLC lifted its position in shares of Lithia Motors by 30.1% in the first quarter. CWM LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 49 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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.