Lithia Motors (NYSE:LAD) Price Target Raised to $355.00 at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $350.00 to $355.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 6.19% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company increased their target price on shares of Lithia Motors from $327.00 to $358.00 and gave the stock an “equal weight” rating in a research report on Monday. Benchmark reiterated a “buy” rating on shares of Lithia Motors in a report on Thursday, October 23rd. Weiss Ratings downgraded Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Evercore ISI upped their target price on Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Finally, Barclays started coverage on Lithia Motors in a research report on Wednesday, November 12th. They issued an “overweight” rating and a $410.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lithia Motors has a consensus rating of “Moderate Buy” and a consensus price target of $392.70.

Lithia Motors Trading Up 0.6%

NYSE:LAD traded up $1.93 on Friday, hitting $334.31. 44,687 shares of the stock were exchanged, compared to its average volume of 215,128. The company’s 50-day moving average price is $324.80 and its 200 day moving average price is $321.65. Lithia Motors has a 52 week low of $262.10 and a 52 week high of $405.14. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 9.67 and a beta of 1.18. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $9.50 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.97. The company had revenue of $9.68 billion during the quarter, compared to analysts’ expectations of $9.38 billion. Lithia Motors had a return on equity of 13.42% and a net margin of 2.39%.Lithia Motors’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.21 EPS. On average, equities research analysts forecast that Lithia Motors will post 34.45 earnings per share for the current year.

Insider Activity

In other news, Director Congdon Stacy Loretz sold 75 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $360.00, for a total transaction of $27,000.00. Following the transaction, the director owned 1,810 shares of the company’s stock, valued at $651,600. This represents a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by company insiders.

Institutional Trading of Lithia Motors

Hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC bought a new stake in Lithia Motors during the 3rd quarter worth approximately $26,000. Bessemer Group Inc. raised its holdings in Lithia Motors by 114.6% during the 2nd quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Lithia Motors by 1,383.3% during the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after purchasing an additional 83 shares during the period. Eastern Bank bought a new stake in shares of Lithia Motors in the 3rd quarter worth approximately $31,000. Finally, Root Financial Partners LLC bought a new stake in Lithia Motors in the third quarter valued at $31,000.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.