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Lithia Motors (NYSE:LAD) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “underweight” rating in a research report issued on Friday. They currently have a $80.00 price objective on the stock. Morgan Stanley’s price target would suggest a potential downside of 14.41% from the company’s current price. The analysts noted that the move was a valuation call.

Shares of Lithia Motors (NYSE:LAD) traded down 3.87% during mid-day trading on Friday, hitting $89.85. The stock had a trading volume of 164,367 shares. Lithia Motors has a one year low of $53.57 and a one year high of $97.20. The stock’s 50-day moving average is $92.41 and its 200-day moving average is $75.45. The company has a market cap of $2.346 billion and a price-to-earnings ratio of 20.95.

Lithia Motors (NYSE:LAD) last released its earnings data on Wednesday, July 23rd. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.10. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $1.05 earnings per share. Lithia Motors’s revenue was up 21.2% compared to the same quarter last year. On average, analysts predict that Lithia Motors will post $5.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, August 6th.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Lithia Motors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $97.70 price target on the stock. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of Lithia Motors in a research note on Wednesday, July 16th. They now have a $103.00 price target on the stock, up previously from $96.00. Finally, analysts at Credit Suisse raised their price target on shares of Lithia Motors from $82.00 to $105.00 in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Lithia Motors currently has an average rating of “Buy” and an average target price of $90.95.

Lithia Motors, Inc, is an operator of automotive franchises and a retailer of new and used vehicles and services.

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