Lithia Motors (NYSE:LAD) Price Target Raised to $380.00 at Guggenheim

Lithia Motors (NYSE:LAD) had its target price hoisted by equities research analysts at Guggenheim from $350.00 to $380.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 14.14% from the stock’s previous close.

LAD has been the subject of several other research reports. Bank of America upped their price objective on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Lithia Motors from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Citigroup increased their price target on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.80.

Lithia Motors Stock Down 0.7 %

NYSE LAD opened at $332.91 on Thursday. The business has a fifty day moving average price of $299.91 and a two-hundred day moving average price of $275.20. The stock has a market capitalization of $9.12 billion, a PE ratio of 9.83 and a beta of 1.64. Lithia Motors has a fifty-two week low of $233.88 and a fifty-two week high of $341.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same period in the prior year, the company earned $9.25 EPS. Lithia Motors’s revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Lithia Motors will post 28.62 earnings per share for the current fiscal year.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 306 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now owns 1,922 shares in the company, valued at $556,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Shauna Mcintyre sold 306 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now directly owns 1,922 shares of the company’s stock, valued at $556,707.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction dated Friday, August 23rd. The stock was 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 owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,541 shares of company stock worth $9,390,606. 1.79% of the stock is currently owned by insiders.

Institutional Trading of Lithia Motors

Several institutional investors and hedge funds have recently modified their holdings of LAD. Barrow Hanley Mewhinney & Strauss LLC grew its position in Lithia Motors by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock worth $429,390,000 after acquiring an additional 217,867 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lithia Motors by 25.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock valued at $256,621,000 after purchasing an additional 203,543 shares during the last quarter. Bridges Investment Management Inc. grew its holdings in Lithia Motors by 118.9% in the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock worth $40,609,000 after purchasing an additional 87,362 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Lithia Motors by 7.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after buying an additional 48,938 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Lithia Motors by 1,502.3% in the second quarter. Bank of Montreal Can now owns 48,919 shares of the company’s stock worth $12,445,000 after acquiring an additional 45,866 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.