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

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 boosted by equities research analysts at Citigroup from $378.00 to $383.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 31.07% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Bank of America upped their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price objective on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 30th. Guggenheim decreased their price objective on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group began coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lithia Motors presently has an average rating of "Moderate Buy" and an average target price of $376.60.

Lithia Motors Stock Performance

Shares of LAD traded down $0.61 during trading hours on Tuesday, reaching $292.21. 253,263 shares of the company traded hands, compared to its average volume of 390,020. The stock's fifty day moving average is $323.31 and its 200 day moving average is $320.84. The stock has a market cap of $7.61 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.30. 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 has a 1-year low of $255.32 and a 1-year high of $405.67.

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

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the 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 directly owned 1,376 shares of the company's stock, valued at $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lithia Motors

Several large investors have recently bought and sold shares of the business. Westwood Holdings Group Inc. lifted its holdings in Lithia Motors by 9.3% in the second quarter. Westwood Holdings Group Inc. now owns 84,587 shares of the company's stock valued at $28,575,000 after buying an additional 7,204 shares during the period. Intech Investment Management LLC lifted its holdings in Lithia Motors by 1.1% in the second quarter. Intech Investment Management LLC now owns 6,359 shares of the company's stock valued at $2,148,000 after buying an additional 71 shares during the period. Cetera Investment Advisers lifted its holdings in Lithia Motors by 3.4% in the second quarter. Cetera Investment Advisers now owns 5,531 shares of the company's stock valued at $1,868,000 after buying an additional 184 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Lithia Motors by 5.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,688 shares of the company's stock worth $2,259,000 after purchasing an additional 321 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in Lithia Motors by 1.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,713 shares of the company's stock worth $3,281,000 after purchasing an additional 122 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.