Lithia Motors (NYSE:LAD) Given New $343.00 Price Target at Wells Fargo & Company

Lithia Motors (NYSE:LAD) had its price target upped by Wells Fargo & Company from $299.00 to $343.00 in a report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on LAD. Stephens increased their target price on Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. The Goldman Sachs Group upped their price target on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Guggenheim raised Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target for the company in a report on Friday, August 9th. Finally, Bank of America upped their price target on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $350.80.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $333.10 on Thursday. The business has a 50 day moving average price of $299.91 and a 200 day moving average price of $275.20. Lithia Motors has a twelve month low of $233.88 and a twelve month high of $341.84. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 9.83 and a beta of 1.64. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26.

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

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.53 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.64%. Lithia Motors’s payout ratio is presently 6.26%.

Insider Transactions at Lithia Motors

In other news, Director Sidney B. Deboer sold 10,777 shares of the 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 completion of the transaction, the director now directly owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction on 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 directly owns 46,129 shares of the company’s stock, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sidney B. Deboer sold 10,777 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the sale, the director now directly owns 35,352 shares of the company’s stock, valued at $9,754,677.36. This represents 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 valued at $9,390,606. Corporate insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

A number of hedge funds and other institutional investors have recently bought and sold shares of LAD. Blue Trust Inc. increased its holdings in Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after purchasing an additional 61 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Lithia Motors during the 3rd quarter valued at $35,000. McClarren Financial Advisors Inc. increased its holdings in Lithia Motors by 12,500.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock valued at $64,000 after purchasing an additional 250 shares in the last quarter. Signaturefd LLC increased its holdings in Lithia Motors by 23.9% during the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $79,000 after purchasing an additional 48 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lithia Motors during the 2nd quarter valued at $80,000.

Lithia Motors Company Profile

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.