JPMorgan Chase & Co. Issues Positive Forecast for Lithia Motors (NYSE:LAD) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target on Lithia Motors from $320 to $325 and kept a "neutral" rating, implying a potential upside of 11.85% from the prior close.
• Analyst coverage is split—six Buy and six Hold ratings—resulting in a MarketBeat average rating of Moderate Buy and an average target price of $367.22.
• Lithia beat quarterly estimates (EPS $7.34 vs. $7.06; revenue $9.27B vs. $9.22B); the stock traded near $290.58 with a P/E of 10.20 and a market cap of $6.79 billion.

Lithia Motors (NYSE:LAD - Get Free Report) had its price objective raised by research analysts at JPMorgan Chase & Co. from $320.00 to $325.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 11.85% from the company's previous close.

A number of other analysts have also weighed in on LAD. Barclays reduced their target price on Lithia Motors from $380.00 to $370.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Bank of America reduced their target price on Lithia Motors from $335.00 to $320.00 in a research note on Monday, April 13th. Weiss Ratings lowered Lithia Motors from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Wells Fargo & Company increased their target price on Lithia Motors from $293.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. Finally, Zacks Research upgraded Lithia Motors from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 23rd. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $367.22.

Lithia Motors Trading Up 0.4%

LAD traded up $1.12 during trading on Thursday, reaching $290.58. The company had a trading volume of 100,232 shares, compared to its average volume of 316,714. The stock has a market cap of $6.79 billion, a P/E ratio of 10.20, a PEG ratio of 0.63 and a beta of 1.28. The business has a 50 day simple moving average of $267.09 and a 200-day simple moving average of $302.34. Lithia Motors has a 52 week low of $239.78 and a 52 week high of $360.55. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.06 by $0.28. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.22 billion. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.Lithia Motors's revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $7.66 earnings per share. On average, equities analysts anticipate that Lithia Motors will post 34.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithia Motors

Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Lithia Motors during the third quarter valued at about $1,601,000. Abrams Capital Management L.P. boosted its position in Lithia Motors by 1.9% during the third quarter. Abrams Capital Management L.P. now owns 2,490,534 shares of the company's stock valued at $787,009,000 after purchasing an additional 45,856 shares in the last quarter. Bridges Investment Management Inc. boosted its position in Lithia Motors by 3.0% during the third quarter. Bridges Investment Management Inc. now owns 263,157 shares of the company's stock valued at $83,158,000 after purchasing an additional 7,558 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Lithia Motors during the third quarter valued at about $557,000. Finally, Jupiter Asset Management Ltd. bought a new stake in Lithia Motors during the third quarter valued at about $548,000.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company's core business activities include vehicle sales, financing, insurance, parts and service.

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