Guggenheim Lowers Lithia Motors (NYSE:LAD) Price Target to $380.00

Key Points

• Guggenheim reduced its price target for Lithia Motors (NYSE:LAD) from $383.00 to $380.00, yet maintains a "buy" rating, indicating a potential upside of 30.04% from the current price.
• Other firms, including Goldman Sachs and Wells Fargo, have issued varying ratings and price targets for Lithia Motors, with consensus showing a "Moderate Buy" with a consensus target price of $379.00.
• Lithia Motors posted quarterly earnings of $10.24 EPS, surpassing analyst estimates and achieving a revenue of $9.58 billion, while experiencing some insider selling during the period.

Lithia Motors (NYSE:LAD - Get Free Report) had its price target decreased by equities research analysts at Guggenheim from $383.00 to $380.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price objective would indicate a potential upside of 25.18% from the company's current price.

Several other analysts have also recently issued reports on LAD. Citigroup increased their target price on Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Bank of America lifted their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. reduced their target price on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. The Goldman Sachs Group initiated coverage on Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating for the company in a report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $379.00.

Lithia Motors Stock Down 1.5%

Shares of NYSE LAD traded down $4.54 during midday trading on Monday, hitting $303.56. 104,697 shares of the stock traded hands, compared to its average volume of 339,069. The company has a market cap of $7.78 billion, a PE ratio of 9.01, a P/E/G ratio of 0.49 and a beta of 1.30. The business has a 50 day moving average price of $322.30 and a two-hundred day moving average price of $319.79. Lithia Motors has a one year low of $255.32 and a one year high of $405.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. The firm had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.56 billion. On average, equities analysts predict that Lithia Motors will post 34.45 EPS for the current year.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the completion of the sale, the director directly owned 1,376 shares of the company's stock, valued at $403,236.80. This trade represents a 15.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Trading of Lithia Motors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC acquired a new stake in shares of Lithia Motors during the 2nd quarter worth approximately $553,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Lithia Motors during the 2nd quarter worth about $210,000. HRT Financial LP grew its position in shares of Lithia Motors by 64.6% during the 2nd quarter. HRT Financial LP now owns 24,232 shares of the company's stock worth $8,186,000 after purchasing an additional 9,506 shares in the last quarter. Holocene Advisors LP raised its position in shares of Lithia Motors by 37.2% in the second quarter. Holocene Advisors LP now owns 38,670 shares of the company's stock valued at $13,063,000 after buying an additional 10,492 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its stake in shares of Lithia Motors by 1,127.5% in the second quarter. Hudson Bay Capital Management LP now owns 20,892 shares of the company's stock valued at $7,058,000 after buying an additional 19,190 shares during the period.

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.