Lithia Motors (NYSE:LAD) Stock Rating Upgraded by Morgan Stanley

Lithia Motors (NYSE:LAD) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a $310.00 price objective on the stock, up from their previous price objective of $225.00. Morgan Stanley’s price objective indicates a potential downside of 2.67% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Bank of America lifted their target price on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on Lithia Motors from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Stephens assumed coverage on shares of Lithia Motors in a report on Thursday, September 12th. They set an “overweight” rating and a $360.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $334.00.

Lithia Motors Price Performance

Shares of Lithia Motors stock traded up $4.42 during midday trading on Wednesday, reaching $318.50. The company had a trading volume of 13,127 shares, compared to its average volume of 252,974. The stock has a fifty day simple moving average of $281.49 and a 200 day simple moving average of $271.29. Lithia Motors has a 1-year low of $231.36 and a 1-year high of $331.96. The company has a current ratio of 1.19, a quick ratio of 0.30 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.30 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.09 by $0.78. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.91 earnings per share. As a group, equities research analysts forecast that Lithia Motors will post 28.78 earnings per share for the current year.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the transaction, the director now owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the sale, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the transaction, the director now directly owns 35,352 shares in the company, valued at approximately $9,754,677.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,021 shares of company stock valued at $6,534,617. 1.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Lithia Motors

A number of large investors have recently added to or reduced their stakes in LAD. Cetera Investment Advisers increased its holdings in shares of Lithia Motors by 1.3% in the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock valued at $975,000 after purchasing an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Lithia Motors by 12.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock valued at $116,000 after buying an additional 52 shares during the last quarter. Blue Trust Inc. raised its holdings in Lithia Motors by 83.6% in the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares during the period. EverSource Wealth Advisors LLC lifted its position in Lithia Motors by 13.3% during the first quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock worth $167,000 after acquiring an additional 65 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Lithia Motors by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,628 shares of the company’s stock worth $663,000 after acquiring an additional 72 shares during the period.

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.