Lithia Motors (NYSE:LAD) Price Target Raised to $364.00 at Wells Fargo & Company

Lithia Motors (NYSE:LAD - Get Free Report) had its price objective raised by research analysts at Wells Fargo & Company from $305.00 to $364.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 3.84% from the stock's current price.

A number of other research analysts have also commented on the company. Guggenheim decreased their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. The Goldman Sachs Group began coverage on Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price for the company. Bank of America lifted their price target on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Lithia Motors presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.00.

Lithia Motors Stock Performance

Shares of LAD stock traded down $6.07 during mid-day trading on Wednesday, reaching $350.53. The stock had a trading volume of 149,551 shares, compared to its average volume of 310,360. The firm has a market cap of $9.12 billion, a PE ratio of 11.05, a P/E/G ratio of 0.56 and a beta of 1.46. The company has a quick ratio of 0.31, a current ratio of 1.18 and a debt-to-equity ratio of 1.22. Lithia Motors has a one year low of $247.01 and a one year high of $405.68. The firm's 50 day simple moving average is $324.80 and its 200 day simple moving average is $327.62.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm earned $6.11 EPS. The company's quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Insider Buying and Selling

In other news, Director Shauna Mcintyre sold 337 shares of Lithia Motors stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director owned 1,632 shares of the company's stock, valued at approximately $482,974.08. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Lithia Motors

Several hedge funds and other institutional investors have recently bought and sold shares of LAD. UMB Bank n.a. lifted its position in Lithia Motors by 29.1% during the second quarter. UMB Bank n.a. now owns 262 shares of the company's stock worth $89,000 after purchasing an additional 59 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Lithia Motors by 39.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 16,823 shares of the company's stock valued at $5,683,000 after purchasing an additional 4,770 shares during the last quarter. Red Spruce Capital LLC boosted its holdings in shares of Lithia Motors by 0.6% during the 2nd quarter. Red Spruce Capital LLC now owns 7,880 shares of the company's stock valued at $2,662,000 after acquiring an additional 44 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Lithia Motors by 106.2% during the second quarter. Parallel Advisors LLC now owns 134 shares of the company's stock valued at $45,000 after purchasing an additional 69 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Lithia Motors by 124.3% during the first quarter. Voya Investment Management LLC now owns 16,392 shares of the company's stock worth $4,812,000 after purchasing an additional 9,083 shares during the period.

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.