JPMorgan Chase & Co. Cuts Lithia Motors (NYSE:LAD) Price Target to $320.00

Lithia Motors (NYSE:LAD) had its price objective reduced by JPMorgan Chase & Co. from $335.00 to $320.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.96% from the company’s previous close.

A number of other research firms also recently issued reports on LAD. Wall Street Zen downgraded shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Bank of America lowered their price objective on shares of Lithia Motors from $335.00 to $320.00 in a research report on Monday. Zacks Research cut shares of Lithia Motors from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 25th. Wells Fargo & Company decreased their price target on shares of Lithia Motors from $355.00 to $293.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Citigroup reduced their price objective on shares of Lithia Motors from $366.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $361.00.

Lithia Motors Stock Up 4.9%

NYSE LAD traded up $13.53 during trading hours on Friday, reaching $288.40. 119,069 shares of the company’s stock were exchanged, compared to its average volume of 317,488. Lithia Motors has a one year low of $239.78 and a one year high of $360.55. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17. The company’s 50-day moving average is $273.55 and its two-hundred day moving average is $304.81. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.65 and a beta of 1.22.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing analysts’ consensus estimates of $8.09 by ($1.35). The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the business posted $7.79 EPS. On average, analysts forecast that Lithia Motors will post 34.45 EPS for the current fiscal year.

Institutional Trading of Lithia Motors

Large investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new position in shares of Lithia Motors during the 3rd quarter valued at approximately $26,000. Clearstead Advisors LLC increased its stake in shares of Lithia Motors by 111.4% during the fourth quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock valued at $31,000 after buying an additional 49 shares during the period. Eastern Bank purchased a new position in Lithia Motors in the third quarter valued at about $31,000. Root Financial Partners LLC purchased a new position in Lithia Motors in the third quarter valued at about $31,000. Finally, V Square Quantitative Management LLC acquired a new stake in Lithia Motors in the fourth quarter worth about $34,000.

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.