Lithia Motors (NYSE:LAD) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Lithia Motors from "strong sell" to "hold," while overall analyst coverage is split (six Buy, six Hold) with an average price target of $361.
• Recent results and market context: Lithia missed Q results on EPS ($6.74 vs. $8.09 expected) with revenue roughly in line at $9.20B, and the stock trades around $274.81 (P/E 8.55) with the 50-day moving average below the 200-day, indicating recent downward pressure.

Lithia Motors (NYSE:LAD - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also commented on LAD. Wall Street Zen lowered Lithia Motors from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. cut their price target on Lithia Motors from $335.00 to $320.00 and set a "neutral" rating on the stock in a research note on Friday, April 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Lithia Motors in a research note on Thursday, January 22nd. Bank of America cut their price target on Lithia Motors from $335.00 to $320.00 in a research note on Monday, April 13th. Finally, Barclays cut their price target on Lithia Motors from $380.00 to $370.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Lithia Motors presently has an average rating of "Moderate Buy" and an average price target of $361.00.

Lithia Motors Stock Performance

Shares of Lithia Motors stock opened at $274.81 on Thursday. The firm has a market cap of $6.43 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.66 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 0.26 and a debt-to-equity ratio of 1.46. Lithia Motors has a 12 month low of $239.78 and a 12 month high of $360.55. The stock's fifty day moving average price is $268.57 and its 200-day moving average price is $303.17.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing the consensus estimate of $8.09 by ($1.35). The firm had revenue of $9.20 billion for the quarter, compared to analysts' expectations of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.79 EPS. On average, equities research analysts expect that Lithia Motors will post 34.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithia Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its position in Lithia Motors by 26.8% in the 4th quarter. Parallel Advisors LLC now owns 156 shares of the company's stock valued at $52,000 after purchasing an additional 33 shares in the last quarter. AGP Franklin LLC raised its position in Lithia Motors by 0.3% in the 3rd quarter. AGP Franklin LLC now owns 10,459 shares of the company's stock valued at $3,305,000 after purchasing an additional 34 shares in the last quarter. Arizona State Retirement System raised its position in Lithia Motors by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 7,702 shares of the company's stock valued at $2,434,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC raised its position in Lithia Motors by 9.2% in the 4th quarter. GAMMA Investing LLC now owns 403 shares of the company's stock valued at $134,000 after purchasing an additional 34 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in Lithia Motors by 3.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 984 shares of the company's stock valued at $246,000 after purchasing an additional 36 shares in the last quarter.

Lithia Motors Company Profile

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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