Lithia Motors (NYSE:LAD) Price Target Raised to $500.00

Lithia Motors (NYSE:LAD - Free Report) had its price target increased by Bank of America from $430.00 to $500.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on the stock. Benchmark restated a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. The Goldman Sachs Group began coverage on Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price objective for the company. Finally, Guggenheim cut their price objective on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $379.40.

Lithia Motors Trading Down 0.1%

Shares of NYSE LAD traded down $0.21 during trading hours on Monday, hitting $326.94. The company's stock had a trading volume of 205,232 shares, compared to its average volume of 312,927. The business has a 50-day simple moving average of $308.21 and a 200-day simple moving average of $331.23. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.53 and a beta of 1.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.31 and a current ratio of 1.18. Lithia Motors has a 12 month low of $243.04 and a 12 month high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a return on equity of 12.74% and a net margin of 2.30%. Lithia Motors's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.11 earnings per share. On average, analysts anticipate that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 0.67%. Lithia Motors's dividend payout ratio (DPR) is presently 6.93%.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $295.94, for a total transaction of $99,731.78. Following the sale, the director now owns 1,632 shares in the company, valued at approximately $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 accessible through the SEC website. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Atlas Capital Advisors Inc. bought a new position in Lithia Motors in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Lithia Motors during the fourth quarter valued at about $35,000. V Square Quantitative Management LLC lifted its position in shares of Lithia Motors by 33.9% in the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock worth $52,000 after buying an additional 37 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Lithia Motors by 1,420.0% in the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after buying an additional 142 shares in the last quarter. Finally, eCIO Inc. bought a new position in Lithia Motors during the first quarter valued at approximately $55,000.

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.