Lithia Motors (NYSE:LAD) Price Target Cut to $326.00 by Analysts at Citigroup

Key Points

• Citigroup cut its price target on Lithia Motors from $366 to $326 but kept a "buy" rating, implying about a 23.5% upside from the prior close.
• Analyst coverage is mixed — six buys, five holds and one sell — giving a consensus rating of Hold with an average target of $376.78.
• Lithia missed quarterly EPS estimates ($6.74 reported vs. $8.09 expected) while revenue of $9.20B was roughly in line; shares traded around $263.94 with a PE of 8.23 and a 12‑month range of $239.78–$360.55.

Lithia Motors (NYSE:LAD - Get Free Report) had its price target decreased by investment analysts at Citigroup from $366.00 to $326.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 23.51% from the company's previous close.

Other analysts have also issued reports about the stock. Bank of America started coverage on shares of Lithia Motors in a research note on Wednesday, March 4th. They issued a "neutral" rating for the company. Zacks Research lowered shares of Lithia Motors from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 25th. JPMorgan Chase & Co. lowered shares of Lithia Motors from an "overweight" rating to a "neutral" rating and set a $335.00 target price for the company. in a research note on Friday, February 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Lithia Motors in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Lithia Motors from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $376.78.

Lithia Motors Price Performance

Shares of NYSE:LAD traded up $2.40 during trading on Wednesday, reaching $263.94. The company had a trading volume of 224,832 shares, compared to its average volume of 317,426. The firm's fifty day moving average is $281.41 and its 200 day moving average is $307.18. The firm has a market capitalization of $6.17 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.60 and a beta of 1.22. Lithia Motors has a twelve month low of $239.78 and a twelve month high of $360.55. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing analysts' consensus estimates of $8.09 by ($1.35). The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The company's revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $7.79 earnings per share. On average, equities analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Institutional Trading of Lithia Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its holdings in shares of Lithia Motors by 106.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 337 shares of the company's stock valued at $112,000 after acquiring an additional 174 shares during the period. Advisortrust Partners LLC acquired a new stake in shares of Lithia Motors during the fourth quarter valued at approximately $265,000. Corient Private Wealth LLC raised its holdings in shares of Lithia Motors by 87.2% during the fourth quarter. Corient Private Wealth LLC now owns 2,351 shares of the company's stock valued at $781,000 after acquiring an additional 1,095 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Lithia Motors by 225.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the company's stock valued at $55,000 after acquiring an additional 115 shares during the period. Finally, Arwa LLC acquired a new stake in shares of Lithia Motors during the fourth quarter valued at approximately $467,000.

About Lithia Motors

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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