Guggenheim Lowers Lithia Motors (NYSE:LAD) Price Target to $297.00

Lithia Motors (NYSE:LAD) had its price objective lowered by research analysts at Guggenheim from $320.00 to $297.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 13.84% from the company’s previous close.

Several other analysts have also issued reports on LAD. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Evercore ISI began coverage on shares of Lithia Motors in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Lithia Motors from $300.00 to $334.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, Wells Fargo & Company upped their target price on shares of Lithia Motors from $298.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of “Hold” and a consensus price target of $334.60.

Lithia Motors Stock Up 0.2 %

Lithia Motors stock traded up $0.57 during midday trading on Wednesday, hitting $260.89. 217,503 shares of the stock were exchanged, compared to its average volume of 200,560. Lithia Motors has a 52-week low of $205.97 and a 52-week high of $331.96. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 2.26 and a beta of 1.58. The business’s 50-day moving average price is $289.01 and its 200-day moving average price is $284.61. The company has a quick ratio of 0.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.15.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share for the quarter, beating analysts’ consensus estimates of $8.11 by $0.13. The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.95 billion. Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $9.05 earnings per share. On average, research analysts expect that Lithia Motors will post 35.35 EPS for the current fiscal year.

Insider Activity

In other news, Director Shauna Mcintyre sold 135 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the sale, the director now owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithia Motors

Several institutional investors have recently added to or reduced their stakes in LAD. Norges Bank bought a new position in Lithia Motors in the 4th quarter worth $123,976,000. Cadian Capital Management LP bought a new position in Lithia Motors in the 4th quarter worth $105,370,000. Morgan Stanley raised its holdings in Lithia Motors by 114.1% in the 4th quarter. Morgan Stanley now owns 463,753 shares of the company’s stock worth $94,949,000 after purchasing an additional 247,174 shares in the last quarter. MFN Partners Management LP raised its holdings in Lithia Motors by 43.0% in the 1st quarter. MFN Partners Management LP now owns 751,077 shares of the company’s stock worth $225,413,000 after purchasing an additional 225,806 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in Lithia Motors by 37,874.1% in the 1st quarter. Eaton Vance Management now owns 171,263 shares of the company’s stock worth $51,400,000 after purchasing an additional 170,812 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.