JPMorgan Chase & Co. Lowers Lithia Motors (NYSE:LAD) Price Target to $335.00

Lithia Motors (NYSE:LAD) had its target price lowered by JPMorgan Chase & Co. from $345.00 to $335.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.46% from the stock’s current price.

Several other analysts have also commented on the company. Guggenheim decreased their price objective on Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Citigroup upgraded Lithia Motors from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. The Goldman Sachs Group started coverage on Lithia Motors in a report on Tuesday, June 3rd. They set a “neutral” rating and a $340.00 price objective for the company. Bank of America increased their price objective on Lithia Motors from $430.00 to $500.00 and gave the company a “buy” rating in a report on Monday, June 16th. Finally, Wells Fargo & Company upped their target price on Lithia Motors from $305.00 to $364.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $382.50.

Lithia Motors Trading Down 0.5%

NYSE LAD traded down $1.61 during trading hours on Wednesday, hitting $306.05. 41,814 shares of the company were exchanged, compared to its average volume of 310,675. The stock has a 50-day moving average price of $328.48 and a 200 day moving average price of $326.67. The company has a quick ratio of 0.31, a current ratio of 1.18 and a debt-to-equity ratio of 1.22. Lithia Motors has a 52 week low of $247.01 and a 52 week high of $405.68. The stock has a market cap of $7.97 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.54 and a beta of 1.46.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($0.11). The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.11 EPS. Analysts forecast that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 337 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the sale, the director directly owned 1,632 shares in the company, valued at $482,974.08. This trade represents a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LAD. Atlas Capital Advisors Inc. purchased a new position in Lithia Motors in the 4th quarter worth approximately $34,000. Parallel Advisors LLC increased its holdings in shares of Lithia Motors by 106.2% during the 2nd quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 69 shares during the last quarter. eCIO Inc. acquired a new stake in shares of Lithia Motors during the 1st quarter worth approximately $55,000. NBC Securities Inc. acquired a new stake in shares of Lithia Motors during the 1st quarter worth approximately $59,000. Finally, UMB Bank n.a. increased its holdings in Lithia Motors by 63.7% in the 1st quarter. UMB Bank n.a. now owns 203 shares of the company’s stock valued at $60,000 after purchasing an additional 79 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.