Lithia Motors (NYSE:LAD) Given New $409.00 Price Target at Citigroup

Lithia Motors (NYSE:LADGet Free Report) had its price objective reduced by research analysts at Citigroup from $455.00 to $409.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 29.00% from the stock’s previous close.

A number of other brokerages also recently issued reports on LAD. Jefferies Financial Group restated a “buy” rating and set a $490.00 price target on shares of Lithia Motors in a report on Thursday, July 30th. Wall Street Zen upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group cut shares of Lithia Motors from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $370.00 to $440.00 in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Lithia Motors from $325.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Barclays raised their price target on Lithia Motors from $360.00 to $415.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $431.22.

Read Our Latest Stock Report on LAD

Lithia Motors Stock Performance

Shares of LAD stock opened at $317.06 on Tuesday. Lithia Motors has a 52 week low of $239.78 and a 52 week high of $439.49. The company has a market capitalization of $6.97 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.67 and a beta of 1.23. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.21 and a current ratio of 1.00. The company’s 50 day moving average price is $361.88 and its two-hundred day moving average price is $308.79.

Lithia Motors (NYSE:LADGet Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $10.03 EPS for the quarter, topping analysts’ consensus estimates of $8.73 by $1.30. The company had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.64 billion. Lithia Motors had a return on equity of 12.16% and a net margin of 1.88%.Lithia Motors’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $10.24 earnings per share. On average, analysts expect that Lithia Motors will post 36 earnings per share for the current fiscal year.

Lithia Motors announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Stacy Congdon sold 75 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $370.73, for a total value of $27,804.75. Following the completion of the transaction, the director directly owned 2,300 shares of the company’s stock, valued at approximately $852,679. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clearstead Advisors LLC boosted its holdings in shares of Lithia Motors by 111.4% during the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. Addison Advisors LLC purchased a new position in Lithia Motors during the second quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lithia Motors in the 2nd quarter valued at about $30,000. Versant Capital Management Inc boosted its stake in Lithia Motors by 1,311.1% during the second quarter. Versant Capital Management Inc now owns 127 shares of the company’s stock worth $37,000 after buying an additional 118 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Lithia Motors by 225.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the company’s stock worth $55,000 after buying an additional 115 shares during the period.

Lithia Motors Company Profile

(Get Free Report)

Lithia Motors, operating under the Lithia & Driveway name, is an automotive retail company that sells new and used vehicles through a network of dealerships and digital channels. Its retail operations represent numerous automobile manufacturers and provide customers with vehicle purchasing, financing, leasing and protection products.

The company also operates parts and service departments that provide maintenance, repairs, collision work and replacement parts. Through its Driveway platform, Lithia offers online vehicle shopping, financing, trade-ins and delivery services, extending its automotive retail model beyond traditional dealership locations.

Founded in 1946 in Ashland, Oregon, Lithia Motors has expanded through acquisitions and dealership development.

Further Reading

Analyst Recommendations for Lithia Motors (NYSE:LAD)

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