Lithia Motors (NYSE:LAD) Price Target Lowered to $335.00 at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD - Get Free Report) had its price target cut by stock analysts at JPMorgan Chase & Co. from $345.00 to $335.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 1.12% from the stock's previous close.

LAD has been the subject of a number of other reports. The Goldman Sachs Group started coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 target price for the company. Bank of America increased their price objective on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a report on Monday, June 16th. Citigroup upgraded Lithia Motors from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $415.00 to $375.00 in a report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on Lithia Motors from $305.00 to $364.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Guggenheim reduced their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $382.50.

Lithia Motors Stock Performance

Shares of NYSE LAD traded down $1.95 during mid-day trading on Wednesday, hitting $331.29. The stock had a trading volume of 407,212 shares, compared to its average volume of 310,269. The firm has a market cap of $8.62 billion, a PE ratio of 10.44, a PEG ratio of 0.54 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.31 and a current ratio of 1.18. The company has a 50 day moving average of $328.39 and a two-hundred day moving average of $327.01. Lithia Motors has a twelve month low of $247.01 and a twelve month high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its 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). The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $9.19 billion. Lithia Motors had a return on equity of 12.74% and a net margin of 2.30%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.11 EPS. Research analysts predict that Lithia Motors will post 34.45 EPS for the current fiscal year.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of Lithia Motors stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director directly owned 1,632 shares of the company's stock, valued at $482,974.08. The trade was a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On Lithia Motors

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Lithia Motors in the 4th quarter valued at about $13,306,000. HighTower Advisors LLC boosted its stake in Lithia Motors by 82.7% during the 4th quarter. HighTower Advisors LLC now owns 2,330 shares of the company's stock worth $833,000 after purchasing an additional 1,055 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Lithia Motors by 11.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,817 shares of the company's stock worth $649,000 after buying an additional 191 shares during the period. Xponance Inc. grew its stake in shares of Lithia Motors by 1.5% in the 4th quarter. Xponance Inc. now owns 4,305 shares of the company's stock valued at $1,539,000 after purchasing an additional 63 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its position in Lithia Motors by 18.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after buying an additional 55,142 shares during the last quarter.

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.