Bank of America Forecasts Strong Price Appreciation for Lithia Motors (NYSE:LAD) Stock

Lithia Motors (NYSE:LAD - Get Free Report) had its price target lifted by stock analysts at Bank of America from $430.00 to $500.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 51.47% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Benchmark restated a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a research report on Thursday, February 20th. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their target price on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Guggenheim cut their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Lithia Motors presently has an average rating of "Moderate Buy" and a consensus price target of $379.40.

Lithia Motors Price Performance

Lithia Motors stock traded up $6.18 during trading hours on Monday, hitting $330.09. 13,258 shares of the stock were exchanged, compared to its average volume of 312,700. The stock has a market capitalization of $8.59 billion, a P/E ratio of 11.12, a P/E/G ratio of 4.65 and a beta of 1.47. The business's 50-day moving average is $306.09 and its two-hundred day moving average is $331.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. 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 released its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $6.11 earnings per share. The firm's revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Lithia Motors will post 34.45 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. acquired a new position in shares of Lithia Motors in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new position in shares of Lithia Motors during the fourth quarter worth approximately $35,000. V Square Quantitative Management LLC raised 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 valued at $52,000 after buying an additional 37 shares in the last quarter. Rakuten Securities Inc. boosted its stake 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 valued at $54,000 after buying an additional 142 shares during the period. Finally, eCIO Inc. acquired a new stake in Lithia Motors during the first quarter worth approximately $55,000.

Lithia Motors Company Profile

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.

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