JPMorgan Chase & Co. Issues Pessimistic Forecast for Lithia Motors (NYSE:LAD) Stock Price

Lithia Motors (NYSE:LAD) had its price target decreased by research analysts at JPMorgan Chase & Co. from $335.00 to $320.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.96% from the stock’s previous close.

A number of other research analysts also recently issued reports on LAD. Weiss Ratings restated a “hold (c+)” rating on shares of Lithia Motors in a research note on Thursday, January 22nd. Bank of America dropped their price target on Lithia Motors from $335.00 to $320.00 in a research report on Monday. Citigroup lowered their price objective on Lithia Motors from $366.00 to $326.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Barclays reduced their target price on Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Research cut Lithia Motors from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $361.00.

Lithia Motors Trading Up 4.9%

Shares of Lithia Motors stock traded up $13.53 during trading hours on Friday, hitting $288.40. The company’s stock had a trading volume of 119,069 shares, compared to its average volume of 317,488. The firm has a fifty day moving average of $273.55 and a 200-day moving average of $304.81. Lithia Motors has a twelve month low of $239.78 and a twelve month high of $360.55. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 0.65 and a beta of 1.22.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing the consensus estimate of $8.09 by ($1.35). Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The company had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company earned $7.79 EPS. Lithia Motors’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Hedge Funds Weigh In On Lithia Motors

Hedge funds and other institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC acquired a new position in shares of Lithia Motors during the third quarter worth approximately $26,000. Eastern Bank bought a new position in Lithia Motors during the 3rd quarter valued at $31,000. Root Financial Partners LLC bought a new position in Lithia Motors during the 3rd quarter valued at $31,000. Clearstead Advisors LLC boosted its stake in Lithia Motors by 111.4% during the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Lithia Motors by 75.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 105 shares of the company’s stock valued at $33,000 after purchasing an additional 45 shares in 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.