Lithia Motors (NYSE:LAD) Given New $299.00 Price Target at Wells Fargo & Company

Lithia Motors (NYSE:LAD) had its target price reduced by Wells Fargo & Company from $302.00 to $299.00 in a report issued on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts also recently issued reports on LAD. StockNews.com downgraded Lithia Motors from a hold rating to a sell rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on Lithia Motors from $315.00 to $375.00 and gave the company an overweight rating in a research report on Tuesday, September 10th. Guggenheim upgraded Lithia Motors from a neutral rating to a buy rating and set a $338.00 target price for the company in a research report on Friday, August 9th. Bank of America raised their price target on Lithia Motors from $320.00 to $330.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Finally, Morgan Stanley upgraded Lithia Motors from an underweight rating to an equal weight rating and raised their price target for the stock from $225.00 to $310.00 in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Lithia Motors currently has an average rating of Hold and a consensus target price of $337.70.

Lithia Motors Price Performance

LAD opened at $303.59 on Tuesday. Lithia Motors has a 1 year low of $231.36 and a 1 year high of $331.96. The stock has a 50-day moving average price of $294.04 and a 200-day moving average price of $273.02. The firm has a market cap of $8.32 billion, a PE ratio of 8.96, a P/E/G ratio of 0.30 and a beta of 1.64. 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 released its quarterly earnings data on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the company earned $10.91 EPS. Lithia Motors’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts predict that Lithia Motors will post 28.74 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.70%. Lithia Motors’s dividend payout ratio is currently 6.26%.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the sale, the director now directly owns 1,922 shares of the company’s stock, valued at $556,707.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,021 shares of company stock worth $6,534,617. Company insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of 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 valued at $429,390,000 after buying an additional 217,867 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Lithia Motors by 25.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock worth $256,621,000 after buying an additional 203,543 shares during the last quarter. Bridges Investment Management Inc. boosted its stake in Lithia Motors by 118.9% during the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock worth $40,609,000 after buying an additional 87,362 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Lithia Motors by 413.6% in the 4th quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock valued at $21,450,000 after purchasing an additional 52,458 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Lithia Motors by 7.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after purchasing an additional 48,938 shares during 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.