Lithia Motors (NYSE:LAD) Price Target Raised to $383.00 at Citigroup

Key Points

• Citigroup raised its price target for Lithia Motors from $378.00 to $383.00, reflecting a potential upside of 28.78% based on the company's current stock price.
• Various analysts have mixed ratings on Lithia Motors, with seven analysts
• Lithia Motors' stock traded up by 4.5%, reaching $297.40, following the announcement of stronger-than-expected quarterly earnings with an EPS of $10.24.

Lithia Motors (NYSE:LAD - Get Free Report) had its price objective raised by investment analysts at Citigroup from $378.00 to $383.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 30.39% from the company's previous close.

LAD has been the topic of a number of other reports. Wells Fargo & Company cut their target price on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group started coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price objective for the company. Guggenheim lowered their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Bank of America raised their target price on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Lithia Motors has a consensus rating of "Moderate Buy" and a consensus target price of $376.60.

Lithia Motors Trading Down 1.1%

Shares of Lithia Motors stock traded down $3.20 during trading hours on Tuesday, reaching $293.73. The stock had a trading volume of 97,626 shares, compared to its average volume of 340,788. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Lithia Motors has a 1 year low of $255.32 and a 1 year high of $405.67. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.46 and a beta of 1.30. The firm has a 50 day simple moving average of $324.24 and a two-hundred day simple moving average of $321.83.

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

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the sale, the director owned 1,376 shares in the company, valued at $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LAD. Bessemer Group Inc. increased its holdings in shares of Lithia Motors by 114.6% in the 2nd quarter. Bessemer Group Inc. now owns 88 shares of the company's stock valued at $29,000 after purchasing an additional 47 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Lithia Motors by 1,383.3% in the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company's stock worth $30,000 after acquiring an additional 83 shares during the last quarter. Parallel Advisors LLC boosted its position in Lithia Motors by 106.2% during the second quarter. Parallel Advisors LLC now owns 134 shares of the company's stock valued at $45,000 after purchasing an additional 69 shares during the last quarter. eCIO Inc. acquired a new position in Lithia Motors in the 1st quarter worth about $55,000. Finally, NBC Securities Inc. acquired a new stake in shares of Lithia Motors during the 1st quarter valued at about $59,000.

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.