Lithia Motors (NYSE:LAD) Price Target Cut to $380.00 by Analysts at Barclays

Lithia Motors (NYSE:LAD) had its target price cut by equities researchers at Barclays from $390.00 to $380.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 29.97% from the stock’s previous close.

A number of other equities analysts also recently commented on LAD. Citigroup increased their price objective on shares of Lithia Motors from $385.00 to $399.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. cut their target price on Lithia Motors from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lithia Motors in a research note on Thursday, January 22nd. Benchmark restated a “buy” rating on shares of Lithia Motors in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and a consensus price target of $388.90.

Lithia Motors Stock Down 3.0%

Shares of NYSE LAD traded down $8.95 during mid-day trading on Tuesday, reaching $292.37. The company had a trading volume of 36,713 shares, compared to its average volume of 276,924. The stock’s 50 day moving average is $332.99 and its 200-day moving average is $321.33. Lithia Motors has a twelve month low of $262.10 and a twelve month high of $378.96. The stock has a market capitalization of $7.09 billion, a PE ratio of 9.14 and a beta of 1.20. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing the consensus estimate of $8.09 by ($1.35). Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company posted $7.79 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts anticipate that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 75 shares of Lithia Motors stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $360.00, for a total transaction of $27,000.00. Following the completion of the sale, the director owned 1,810 shares of the company’s stock, valued at approximately $651,600. The trade was a 3.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAD. CoreCap Advisors LLC purchased a new position in shares of Lithia Motors in the 3rd quarter valued at $26,000. Bessemer Group Inc. grew its stake in shares of Lithia Motors by 114.6% in the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock worth $29,000 after purchasing an additional 47 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Lithia Motors by 1,383.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock valued at $30,000 after purchasing an additional 83 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Lithia Motors by 111.4% during the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after buying an additional 49 shares during the period. Finally, Eastern Bank acquired a new stake in Lithia Motors during the 3rd quarter worth about $31,000.

Lithia Motors Company Profile

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.