Lithia Motors (NYSE:LAD) Price Target Cut to $328.00 by Analysts at The Goldman Sachs Group

Lithia Motors (NYSE:LAD) had its price target decreased by stock analysts at The Goldman Sachs Group from $385.00 to $328.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 12.12% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Evercore ISI boosted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on shares of Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Citigroup raised shares of Lithia Motors from a “neutral” rating to a “buy” rating and decreased their price target for the company from $415.00 to $375.00 in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Lithia Motors from $397.00 to $308.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $361.20.

Lithia Motors Stock Performance

Lithia Motors stock opened at $292.54 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. The firm has a market capitalization of $7.69 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61. Lithia Motors has a 1-year low of $243.04 and a 1-year high of $405.68. The company’s 50-day moving average is $305.08 and its 200 day moving average is $340.51.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Research analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Insider Buying and Selling at Lithia Motors

In other news, insider Gary M. Glandon sold 325 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now owns 1,665 shares in the company, valued at approximately $645,786.90. This represents a 16.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shauna Mcintyre sold 248 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.84, for a total value of $72,128.32. Following the transaction, the director now owns 1,297 shares in the company, valued at approximately $377,219.48. This trade represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,246 shares of company stock valued at $433,724. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lithia Motors

A number of large investors have recently modified their holdings of LAD. JPMorgan Chase & Co. grew its position in Lithia Motors by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock worth $82,560,000 after purchasing an additional 37,677 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Lithia Motors during the fourth quarter worth $91,190,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Lithia Motors by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 208,253 shares of the company’s stock valued at $74,436,000 after buying an additional 2,108 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Lithia Motors by 497.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,676 shares of the company’s stock valued at $1,314,000 after acquiring an additional 3,061 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Lithia Motors by 1,073.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company’s stock worth $990,000 after acquiring an additional 2,534 shares during 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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.