Lithia Motors (NYSE:LAD) Price Target Lowered to $280.00 at Citigroup

Lithia Motors (NYSE:LAD) had its price target reduced by Citigroup from $320.00 to $280.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company decreased their price objective on Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a report on Thursday. Evercore ISI assumed coverage on Lithia Motors in a research note on Wednesday, January 17th. They issued an outperform rating and a $400.00 price target on the stock. Bank of America boosted their price target on Lithia Motors from $380.00 to $385.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Craig Hallum decreased their price target on Lithia Motors from $350.00 to $310.00 and set a buy rating on the stock in a research note on Thursday. Finally, Guggenheim decreased their price target on Lithia Motors from $320.00 to $297.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Lithia Motors presently has an average rating of Hold and an average target price of $320.82.

Lithia Motors Stock Performance

Shares of NYSE LAD opened at $262.72 on Thursday. Lithia Motors has a 12 month low of $206.69 and a 12 month high of $331.96. The company has a market cap of $7.23 billion, a P/E ratio of 7.76, a P/E/G ratio of 2.33 and a beta of 1.58. The business’s 50 day moving average is $282.64 and its two-hundred day moving average is $283.65. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the business posted $8.44 EPS. Lithia Motors’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts expect that Lithia Motors will post 33.17 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.81%. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is currently 5.90%.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $297.84, for a total value of $40,208.40. Following the transaction, the director now owns 1,662 shares of the company’s stock, valued at $495,010.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FourThought Financial Partners LLC raised its position in shares of Lithia Motors by 2.4% during the fourth quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock worth $530,000 after acquiring an additional 37 shares during the last quarter. Xponance Inc. raised its position in shares of Lithia Motors by 1.1% during the fourth quarter. Xponance Inc. now owns 3,492 shares of the company’s stock worth $1,150,000 after acquiring an additional 38 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Lithia Motors by 32.0% during the third quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $68,000 after acquiring an additional 56 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Lithia Motors by 0.3% during the third quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock worth $5,054,000 after acquiring an additional 59 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Lithia Motors by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock worth $3,510,000 after acquiring an additional 60 shares during the last quarter.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.