Lithia Motors (NYSE:LAD) Price Target Cut to $248.00 by Analysts at Wells Fargo & Company

Lithia Motors (NYSE:LAD) had its price objective reduced by equities researchers at Wells Fargo & Company from $290.00 to $248.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 5.60% from the company’s current price.

LAD has been the subject of a number of other research reports. Guggenheim decreased their price objective on shares of Lithia Motors from $320.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Stephens reiterated an “overweight” rating and set a $375.00 price objective on shares of Lithia Motors in a report on Wednesday, February 14th. Evercore ISI initiated coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, StockNews.com lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $320.82.

Lithia Motors Price Performance

Lithia Motors stock opened at $262.72 on Thursday. The firm has a 50-day moving average price of $283.22 and a 200-day moving average price of $283.67. The firm has a market capitalization of $7.23 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.58. The company has a current ratio of 1.17, a quick ratio of 0.45 and a debt-to-equity ratio of 1.16. Lithia Motors has a 12-month low of $206.69 and a 12-month high of $331.96.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. Lithia Motors’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $8.44 EPS. As a group, equities research analysts forecast that Lithia Motors will post 34.78 EPS for the current year.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of Lithia Motors stock in a transaction that occurred on Friday, February 16th. The shares were 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 approximately $495,010.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Oak Thistle LLC acquired a new stake in Lithia Motors in the 3rd quarter worth approximately $325,000. Campbell Newman Asset Management Inc. boosted its stake in Lithia Motors by 67.2% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 5,417 shares of the company’s stock worth $1,600,000 after purchasing an additional 2,178 shares in the last quarter. Xponance Inc. boosted its stake in Lithia Motors by 3.4% in the 3rd quarter. Xponance Inc. now owns 3,454 shares of the company’s stock worth $1,020,000 after purchasing an additional 114 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Lithia Motors by 3.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,746 shares of the company’s stock worth $1,697,000 after purchasing an additional 184 shares in the last quarter. Finally, California First Leasing Corp boosted its stake in Lithia Motors by 27.0% in the 3rd quarter. California First Leasing Corp now owns 7,804 shares of the company’s stock worth $2,305,000 after purchasing an additional 1,659 shares in the last quarter.

About Lithia Motors

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.