Lithia Motors Shares Gap Up After Analyst Upgrade (LAD)
Lithia Motors (NYSE:LAD) gapped up prior to trading on Monday after Credit Suisse raised their price target on the stock from $82.00 to $105.00, AnalystRatingsNetwork.com reports. The stock had previously closed at $92.19, but opened at $92.35. Lithia Motors shares last traded at $93.39, with a volume of 113,757 shares trading hands.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp raised their price target on shares of Lithia Motors from $83.00 to $85.00 in a research note on Thursday, May 22nd. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Lithia Motors from a “neutral” rating to an “outperform” rating in a research note on Friday, April 11th. They now have a $70.80 price target on the stock. Finally, analysts at BB&T Corp. raised their price target on shares of Lithia Motors from $53.00 to $77.00 in a research note on Thursday, April 3rd. They now have a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $81.80.
The stock’s 50-day moving average is $78.28 and its 200-day moving average is $68.42. The company has a market cap of $2.426 billion and a price-to-earnings ratio of 23.01.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.94 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.96 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Analysts expect that Lithia Motors will post $4.74 EPS for the current fiscal year.
Lithia Motors, Inc, is an operator of automotive franchises and a retailer of new and used vehicles and services.