Lithia Motors (NYSE:LAD) Given New $280.00 Price Target at Citigroup

Lithia Motors (NYSE:LAD - Get Free Report) had its price objective reduced by equities researchers at Citigroup from $320.00 to $280.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective suggests a potential upside of 8.64% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Lithia Motors from $290.00 to $248.00 and set an "equal weight" rating for the company in a report on Thursday. Stephens reissued an "overweight" rating and set a $375.00 price objective on shares of Lithia Motors in a research note on Wednesday, February 14th. Craig Hallum dropped their price objective on shares of Lithia Motors from $350.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday. Guggenheim dropped their price objective on shares of Lithia Motors from $320.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an "underweight" rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $320.82.

Lithia Motors Stock Performance

NYSE LAD traded up $9.39 during trading hours on Thursday, hitting $257.73. The company had a trading volume of 783,441 shares, compared to its average volume of 222,344. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.45 and a current ratio of 1.41. Lithia Motors has a 1-year low of $206.69 and a 1-year high of $331.96. The company has a market cap of $7.10 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 2.24 and a beta of 1.58. The business has a 50 day moving average of $284.15 and a 200-day moving average of $283.85.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the company posted $8.44 EPS. Lithia Motors's quarterly revenue was up 22.7% on a year-over-year basis. As a group, equities research analysts expect that Lithia Motors will post 34.78 EPS for the current year.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 135 shares of Lithia Motors stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the sale, the director now owns 1,662 shares of the company's stock, valued at approximately $495,010.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Thistle LLC acquired a new position in shares of Lithia Motors in the 3rd quarter valued at about $325,000. Campbell Newman Asset Management Inc. boosted its holdings in shares of Lithia Motors by 67.2% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 5,417 shares of the company's stock valued at $1,600,000 after buying an additional 2,178 shares during the period. Xponance Inc. boosted its holdings in shares of Lithia Motors by 3.4% in the 3rd quarter. Xponance Inc. now owns 3,454 shares of the company's stock valued at $1,020,000 after buying an additional 114 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Lithia Motors by 3.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,746 shares of the company's stock valued at $1,697,000 after buying an additional 184 shares during the period. Finally, California First Leasing Corp boosted its holdings in shares of Lithia Motors by 27.0% in the 3rd quarter. California First Leasing Corp now owns 7,804 shares of the company's stock valued at $2,305,000 after buying an additional 1,659 shares during the period.

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.

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