Lithia Motors (NYSE:LAD) Shares Gap Down to $264.49

Shares of Lithia Motors, Inc. (NYSE:LAD - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $264.49, but opened at $250.00. Lithia Motors shares last traded at $256.39, with a volume of 117,601 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on LAD. Guggenheim decreased their target price on shares of Lithia Motors from $320.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday, April 17th. Stephens reissued an "overweight" rating and set a $375.00 price objective on shares of Lithia Motors in a research report on Wednesday, February 14th. Wells Fargo & Company upped their target price on shares of Lithia Motors from $298.00 to $315.00 and gave the company an "equal weight" rating in a research report on Thursday, February 15th. Evercore ISI began coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They issued an "outperform" rating and a $400.00 price objective on the stock. Finally, StockNews.com downgraded shares of Lithia Motors from a "hold" rating to a "sell" rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Lithia Motors has an average rating of "Hold" and a consensus target price of $334.60.

Lithia Motors Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 1.41 and a quick ratio of 0.45. The company's 50 day simple moving average is $285.26 and its 200 day simple moving average is $284.10. The company has a market capitalization of $6.83 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 2.21 and a beta of 1.58.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $8.24 EPS for the quarter, topping the consensus estimate of $8.11 by $0.13. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.95 billion. Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. Lithia Motors's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $9.05 EPS. As a group, sell-side analysts predict that Lithia Motors, Inc. will post 34.78 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Saturday, March 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Thursday, March 7th. Lithia Motors's dividend payout ratio is currently 5.51%.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the sale, the director now owns 1,662 shares in the company, valued at approximately $495,010.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.79% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LAD. Assenagon Asset Management S.A. acquired a new position in shares of Lithia Motors in the first quarter worth $641,000. Louisiana State Employees Retirement System lifted its stake in shares of Lithia Motors by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company's stock worth $2,377,000 after acquiring an additional 200 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in Lithia Motors in the first quarter valued at $975,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Lithia Motors by 98.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,059 shares of the company's stock worth $3,026,000 after purchasing an additional 4,999 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in Lithia Motors by 2.2% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,468 shares of the company's stock worth $1,043,000 after buying an additional 73 shares during the last quarter.

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.