Lithia Motors (NYSE:LAD) Stock Gets Price Target Trim from UBS Group

Lithia Motors (NYSE:LAD) had its price target reduced by UBS Group from $440.00 to $335.00 in a research report sent to investors on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

LAD has been the topic of a number of other reports. Benchmark boosted their price target on shares of Lithia Motors from $400.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective on shares of Lithia Motors from $340.00 to $320.00 and set a “neutral” rating for the company in a research report on Tuesday. Bank of America lifted their price objective on Lithia Motors from $350.00 to $417.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Citigroup cut their target price on Lithia Motors from $455.00 to $409.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $402.60.

Lithia Motors Price Performance

Lithia Motors stock opened at $289.98 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.00 and a quick ratio of 0.21. The business has a 50 day simple moving average of $347.54 and a 200-day simple moving average of $312.61. Lithia Motors has a 12 month low of $239.78 and a 12 month high of $439.49. The stock has a market capitalization of $6.37 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.61 and a beta of 1.27.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $10.03 earnings per share for the quarter, beating analysts’ consensus estimates of $8.73 by $1.30. The firm had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.64 billion. Lithia Motors had a net margin of 1.88% and a return on equity of 12.16%. Lithia Motors’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $10.24 EPS. Equities analysts predict that Lithia Motors will post 35.70 earnings per share for the current year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.70 per share. The ex-dividend date was Friday, August 7th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.57. This represents a $2.80 annualized dividend and a yield of 1.0%. Lithia Motors’s dividend payout ratio (DPR) is currently 9.29%.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Stacy Congdon sold 75 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $370.73, for a total value of $27,804.75. Following the completion of the transaction, the director directly owned 2,300 shares of the company’s stock, 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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Hedge funds have recently bought and sold shares of the company. Addison Advisors LLC purchased a new stake in shares of Lithia Motors in the 2nd quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Lithia Motors during the 2nd quarter valued at about $30,000. Versant Capital Management Inc increased its holdings in Lithia Motors by 1,311.1% during the 2nd quarter. Versant Capital Management Inc now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 118 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Lithia Motors by 225.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the company’s stock worth $55,000 after acquiring an additional 115 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Lithia Motors by 68.0% during the first quarter. Bessemer Group Inc. now owns 173 shares of the company’s stock worth $43,000 after acquiring an additional 70 shares during the last quarter.

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.