Lithia Motors (NYSE:LAD) Price Target Raised to $306.00 at Wells Fargo & Company

Lithia Motors (NYSE:LADGet Free Report) had its price target hoisted by stock analysts at Wells Fargo & Company from $305.00 to $306.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 0.44% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Zacks Research raised Lithia Motors from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Barclays reduced their price target on Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Citigroup raised their price objective on shares of Lithia Motors from $326.00 to $365.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $368.22.

View Our Latest Stock Report on LAD

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $307.35 on Monday. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.67 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24. The firm has a 50 day simple moving average of $289.26 and a 200 day simple moving average of $295.47. Lithia Motors has a one year low of $239.78 and a one year high of $360.55.

Lithia Motors (NYSE:LADGet Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $7.66 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that Lithia Motors will post 34.37 earnings per share for the current fiscal year.

Lithia Motors announced that its Board of Directors has approved a share buyback plan on Tuesday, May 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 245 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $294.64, for a total transaction of $72,186.80. Following the transaction, the director directly owned 1,846 shares in the company, valued at approximately $543,905.44. This represents a 11.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Bailey, Jr. sold 297 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total transaction of $83,329.29. Following the sale, the director directly owned 760 shares of the company’s stock, valued at approximately $213,233.20. This trade represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 782 shares of company stock valued at $229,572. Corporate insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its stake in shares of Lithia Motors by 1,311.1% in the 2nd quarter. Versant Capital Management Inc now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 118 shares during the period. Redwood Investment Management LLC raised its stake in Lithia Motors by 26.0% during the 1st quarter. Redwood Investment Management LLC now owns 4,164 shares of the company’s stock worth $1,040,000 after buying an additional 860 shares during the period. Western Wealth Management LLC bought a new position in Lithia Motors in the first quarter worth approximately $67,000. Bank of America Corp DE boosted its holdings in Lithia Motors by 1.9% in the first quarter. Bank of America Corp DE now owns 72,855 shares of the company’s stock worth $18,193,000 after acquiring an additional 1,373 shares in the last quarter. Finally, Talon Private Wealth LLC acquired a new stake in Lithia Motors in the first quarter valued at approximately $572,000.

About Lithia Motors

(Get Free Report)

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.

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Analyst Recommendations for Lithia Motors (NYSE:LAD)

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