Lithia Motors (NYSE:LAD) Given New $270.00 Price Target at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its target price reduced by JPMorgan Chase & Co. from $285.00 to $270.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on LAD. StockNews.com upgraded Lithia Motors from a sell rating to a hold rating in a research report on Friday, April 26th. Evercore ISI began coverage on Lithia Motors in a report on Wednesday, January 17th. They set an outperform rating and a $400.00 target price on the stock. Citigroup cut their price target on shares of Lithia Motors from $320.00 to $280.00 and set a neutral rating for the company in a report on Thursday, April 25th. Wells Fargo & Company dropped their target price on shares of Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Finally, The Goldman Sachs Group upped their price target on Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $318.55.

Lithia Motors Stock Performance

Shares of NYSE:LAD traded up $2.28 on Thursday, hitting $253.48. The company’s stock had a trading volume of 192,231 shares, compared to its average volume of 227,600. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 2.32 and a beta of 1.59. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17. Lithia Motors has a 12 month low of $206.69 and a 12 month high of $331.96. The stock’s 50-day moving average is $279.52 and its two-hundred day moving average is $282.99.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company earned $8.44 EPS. The business’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts forecast that Lithia Motors will post 32.24 EPS for the current year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued 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 0.84%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s dividend payout ratio is currently 5.90%.

Insider Activity

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the transaction, the director now owns 2,228 shares of the company’s stock, valued at $566,847.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.79% of the stock is owned by insiders.

Institutional Trading of Lithia Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. boosted its position in shares of Lithia Motors by 3.4% in the third quarter. Xponance Inc. now owns 3,454 shares of the company’s stock valued at $1,020,000 after acquiring an additional 114 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings 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 valued at $1,697,000 after purchasing an additional 184 shares during the period. Bridges Investment Management Inc. grew its position in Lithia Motors by 42.7% in the 3rd quarter. Bridges Investment Management Inc. now owns 52,251 shares of the company’s stock worth $15,431,000 after purchasing an additional 15,643 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Lithia Motors by 0.3% during the 3rd quarter. New York State Teachers Retirement System now owns 37,930 shares of the company’s stock worth $11,202,000 after purchasing an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lithia Motors by 15.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,481 shares of the company’s stock valued at $1,619,000 after buying an additional 729 shares during the period.

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.