Lithia Motors (NYSE:LAD) Stock Price Target Lowered at Barclays

Lithia Motors (NYSE:LAD) had its price target decreased by Barclays from $415.00 to $375.00 in a research report released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

LAD has been the subject of a number of other reports. Benchmark raised their price objective on shares of Lithia Motors from $400.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group cut shares of Lithia Motors from a “buy” rating to a “neutral” rating and upped their target price for the company from $370.00 to $440.00 in a research note on Thursday, July 30th. Citigroup cut their price target on shares of Lithia Motors from $455.00 to $409.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Weiss Ratings upgraded Lithia Motors from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 24th. Finally, Morgan Stanley dropped their target price on Lithia Motors from $358.00 to $310.00 and set an “equal weight” rating for the company in a report on Monday. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $413.10.

Lithia Motors Stock Performance

Shares of NYSE LAD opened at $292.38 on Tuesday. The business has a fifty day simple moving average of $354.59 and a 200 day simple moving average of $312.17. The company has a current ratio of 1.00, a quick ratio of 0.21 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.64 and a beta of 1.27. Lithia Motors has a one year low of $239.78 and a one year high of $439.49.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, July 29th. The company reported $10.03 EPS for the quarter, topping the consensus estimate of $8.73 by $1.30. Lithia Motors had a return on equity of 12.16% and a net margin of 1.88%.The firm had revenue of $9.79 billion during the quarter, compared to analysts’ expectations of $9.64 billion. During the same period last year, the business earned $10.24 earnings per share. Lithia Motors’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts expect that Lithia Motors will post 36 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.70 dividend. This is an increase from Lithia Motors’s previous quarterly dividend of $0.57. This represents a $2.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 7th. Lithia Motors’s payout ratio is presently 9.29%.

Insider Activity at Lithia Motors

In other news, Director Stacy Congdon sold 75 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $370.73, for a total value of $27,804.75. Following the completion of the sale, the director directly owned 2,300 shares in the company, valued at approximately $852,679. This trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

A number of hedge funds have recently added to or reduced their stakes in the stock. Addison Advisors LLC bought a new position in shares of Lithia Motors in the second quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Lithia Motors during the second quarter valued at approximately $30,000. Versant Capital Management Inc increased its holdings in shares of Lithia Motors by 1,311.1% in the second quarter. Versant Capital Management Inc now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Lithia Motors by 68.0% in the first quarter. Bessemer Group Inc. now owns 173 shares of the company’s stock valued at $43,000 after purchasing an additional 70 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Lithia Motors by 32.1% in the 2nd quarter. GAMMA Investing LLC now owns 173 shares of the company’s stock worth $50,000 after purchasing an additional 42 shares during the last quarter.

More Lithia Motors News

Here are the key news stories impacting Lithia Motors this week:

• Positive Sentiment: Lithia & Driveway announced the acquisition of Rockwall Hyundai, expanding its dealership portfolio and potentially supporting revenue and earnings growth. Lithia & Driveway announces Rockwall Hyundai deal
• Positive Sentiment: Barclays lowered its price target from $415 to $375 but maintained an overweight rating, implying substantial upside from the current trading level. Barclays Cuts Lithia Motors Price Target
• Neutral Sentiment: Lithia & Driveway promoted Katie Macaddino to chief people officer. The leadership change may support organizational execution, though it is unlikely to materially affect near-term financial results. Lithia & Driveway Names Katie Macaddino Chief People Officer
• Neutral Sentiment: A Zacks analysis is examining whether LAD is undervalued using earnings estimates, estimate revisions, and value, growth, and momentum measures; the item does not provide a definitive rating change. Is Lithia Motors Stock Undervalued Right Now?
• Negative Sentiment: JPMorgan cut its price target from $340 to $320 and kept a neutral rating, reflecting limited conviction in near-term upside.
• Negative Sentiment: Morgan Stanley reduced its target from $358 to $310 and maintained an equal-weight rating, adding to the series of downward revisions. Morgan Stanley Issues Forecast for Lithia Motors

Lithia Motors Company Profile

Lithia Motors, Inc, doing business as Lithia & Driveway (NYSE:LAD), is an automotive retailer that operates a network of franchised dealerships and other vehicle-sales businesses. The company sells new and used vehicles from a broad range of automobile manufacturers, including domestic, import and luxury brands.

In addition to vehicle sales, Lithia & Driveway provides automotive financing and insurance products, maintenance and repair services, replacement parts, collision services and other related offerings.