Lithia Motors (NYSE:LAD) Trading Down 5.8% Following Analyst Downgrade

Lithia Motors, Inc. (NYSE:LAD - Get Free Report) fell 5.8% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $345.00 to $335.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as low as $313.52 and last traded at $312.12. 54,302 shares were traded during trading, a decline of 82% from the average session volume of 309,475 shares. The stock had previously closed at $331.23.

A number of other research analysts have also commented on the stock. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and reduced their price target for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Bank of America boosted their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. The Goldman Sachs Group initiated 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 for the company. Guggenheim decreased their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their price target on shares of Lithia Motors from $305.00 to $364.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $382.50.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the completion of the transaction, the director directly owned 1,632 shares in the company, valued at approximately $482,974.08. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Coppell Advisory Solutions LLC increased its position in shares of Lithia Motors by 10,136,710.0% during the first quarter. Coppell Advisory Solutions LLC now owns 2,027,362 shares of the company's stock valued at $595,112,000 after acquiring an additional 2,027,342 shares during the last quarter. Norges Bank bought a new stake in shares of Lithia Motors in the 4th quarter worth approximately $152,752,000. Steadfast Capital Management LP boosted its position 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 worth $164,524,000 after purchasing an additional 266,715 shares in the last quarter. Park West Asset Management LLC bought a new stake in shares of Lithia Motors in the 1st quarter worth approximately $58,825,000. Finally, Millennium Management LLC lifted its position in Lithia Motors by 1,840.6% in the 1st quarter. Millennium Management LLC now owns 181,777 shares of the company's stock valued at $53,359,000 after acquiring an additional 172,410 shares in the last quarter.

Lithia Motors Stock Performance

The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $8.00 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.49 and a beta of 1.46. The business's 50 day simple moving average is $328.50 and its two-hundred day simple moving average is $325.95.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a return on equity of 12.74% and a net margin of 2.30%. The company's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $6.11 EPS. Research analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 9th. Lithia Motors's dividend payout ratio is 6.93%.

About Lithia Motors

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.