Lithia Motors (NYSE:LAD) Price Target Cut to $270.00 by Analysts at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its price target cut by JPMorgan Chase & Co. from $285.00 to $270.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently weighed in on LAD. Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a buy rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded Lithia Motors from a sell rating to a hold rating in a report on Friday, April 26th. Stephens restated an overweight rating and set a $375.00 target price on shares of Lithia Motors in a research report on Wednesday, February 14th. Citigroup cut their price target on shares of Lithia Motors from $320.00 to $280.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Finally, Guggenheim decreased their price objective on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating for the company in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $318.55.

Lithia Motors Price Performance

Shares of LAD stock opened at $253.48 on Thursday. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 2.31 and a beta of 1.59. Lithia Motors has a 12 month low of $206.69 and a 12 month high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $279.52 and a 200 day moving average price of $283.17.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the firm earned $8.44 EPS. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. Research analysts expect that Lithia Motors will post 32.24 EPS for the current year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.53 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, May 9th. Lithia Motors’s payout ratio is currently 6.26%.

Insider Buying and Selling

In other news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now directly owns 2,228 shares in the company, valued at $566,847.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Lithia Motors in the third quarter valued at $32,000. Denali Advisors LLC grew its holdings in shares of Lithia Motors by 5,050.0% in the 4th quarter. Denali Advisors LLC now owns 103 shares of the company’s stock valued at $34,000 after acquiring an additional 101 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Lithia Motors by 509.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock valued at $38,000 after acquiring an additional 107 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Lithia Motors in the fourth quarter valued at about $49,000. Finally, Rise Advisors LLC raised its holdings in Lithia Motors by 80.2% during the first quarter. Rise Advisors LLC now owns 191 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares in the last quarter.

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.