Lithia Motors (NYSE:LAD) Price Target Cut to $315.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Lithia Motors (NYSE:LAD) from $335.00 to $315.00, while maintaining an "overweight" rating on the stock.
• Despite the downgrade by JPMorgan, other analysts like Bank of America have increased their target to $500.00, highlighting a mixed outlook within the investment community.
• Lithia Motors reported $10.24 EPS for the last quarter, which exceeded analysts' estimates, with total revenue hitting $9.58 billion.

Lithia Motors (NYSE:LAD - Free Report) had its target price cut by JPMorgan Chase & Co. from $335.00 to $315.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently issued reports on LAD. Wells Fargo & Company cut their price target 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. The Goldman Sachs Group began 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. Guggenheim reduced 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. Bank of America boosted their target price on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Citigroup upgraded Lithia Motors from a "neutral" rating to a "buy" rating and dropped their price target for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Lithia Motors presently has a consensus rating of "Moderate Buy" and a consensus price target of $376.60.

Lithia Motors Stock Performance

Shares of LAD stock opened at $297.41 on Tuesday. The stock's 50-day moving average price is $324.24 and its 200 day moving average price is $321.83. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $7.74 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.46 and a beta of 1.30. Lithia Motors has a 52-week low of $255.32 and a 52-week high of $405.67.

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

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Lithia Motors's dividend payout ratio is currently 6.52%.

Insider Buying and Selling

In other news, Director Shauna Mcintyre sold 256 shares of the company's stock in a transaction on 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 in the company, valued at $403,236.80. This represents a 15.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC increased its stake in shares of Lithia Motors by 10,136,710.0% in the first quarter. Coppell Advisory Solutions LLC now owns 2,027,362 shares of the company's stock worth $595,112,000 after buying an additional 2,027,342 shares during the last quarter. Steadfast Capital Management LP raised its stake in shares of Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after purchasing an additional 266,715 shares in the last quarter. Park West Asset Management LLC bought a new position in shares of Lithia Motors during the first quarter worth about $58,825,000. Millennium Management LLC grew its stake in Lithia Motors by 1,840.6% in the first quarter. Millennium Management LLC now owns 181,777 shares of the company's stock worth $53,359,000 after purchasing an additional 172,410 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Lithia Motors in the first quarter worth about $36,762,000.

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.