Wells Fargo & Company Trims Lithia Motors (NYSE:LAD) Target Price to $248.00

Lithia Motors (NYSE:LAD) had its target price trimmed by Wells Fargo & Company from $290.00 to $248.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

LAD has been the subject of several other research reports. Stephens reiterated an overweight rating and set a $375.00 target price on shares of Lithia Motors in a research note on Wednesday, February 14th. Bank of America boosted their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the company an underweight rating in a research note on Thursday, February 29th. The Goldman Sachs Group boosted their target price on shares of Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Guggenheim lowered their target price on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating for the company in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $320.82.

Lithia Motors Trading Up 1.9 %

LAD opened at $262.72 on Thursday. The stock has a market capitalization of $7.23 billion, a PE ratio of 7.76, a P/E/G ratio of 2.22 and a beta of 1.58. The firm’s fifty day moving average price is $282.64 and its 200 day moving average price is $283.62. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 0.45. Lithia Motors has a 12-month low of $206.69 and a 12-month high of $331.96.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the company earned $8.44 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. As a group, research analysts expect that Lithia Motors will post 33.17 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Thursday, May 9th. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s dividend payout ratio is currently 5.90%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction dated 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 transaction, the director now owns 1,662 shares in the company, valued at approximately $495,010.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently bought and sold shares of LAD. Allspring Global Investments Holdings LLC bought a new position in Lithia Motors in the 3rd quarter valued at about $32,000. Denali Advisors LLC lifted its holdings in Lithia Motors by 5,050.0% in the 4th quarter. Denali Advisors LLC now owns 103 shares of the company’s stock valued at $34,000 after acquiring an additional 101 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Lithia Motors by 509.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Lithia Motors in the 4th quarter worth approximately $49,000. Finally, Rise Advisors LLC grew its stake in shares of Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares during the last quarter.

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.