JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lithia Motors (NYSE:LAD) Stock

Lithia Motors (NYSE:LAD) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $350.00 to $355.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.19% from the stock’s previous close.

A number of other analysts also recently commented on LAD. Barclays initiated coverage on Lithia Motors in a report on Wednesday, November 12th. They set an “overweight” rating and a $410.00 price objective for the company. Weiss Ratings cut shares of Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Benchmark restated a “buy” rating on shares of Lithia Motors in a research note on Thursday, October 23rd. Wells Fargo & Company upped their target price on shares of Lithia Motors from $327.00 to $358.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Citigroup increased their price target on Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Lithia Motors presently has an average rating of “Moderate Buy” and an average target price of $392.70.

Lithia Motors Price Performance

LAD traded up $1.93 during trading on Friday, reaching $334.31. 44,687 shares of the stock were exchanged, compared to its average volume of 215,128. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.21 and a quick ratio of 0.30. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 9.67 and a beta of 1.18. The business’s 50 day moving average price is $324.80 and its two-hundred day moving average price is $321.65. Lithia Motors has a 1 year low of $262.10 and a 1 year high of $405.14.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $9.50 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.97. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The business had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.38 billion. During the same period in the previous year, the firm posted $8.21 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Lithia Motors will post 34.45 earnings per share for the current year.

Insider Activity

In related news, Director Congdon Stacy Loretz sold 75 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $360.00, for a total transaction of $27,000.00. Following the sale, the director directly owned 1,810 shares of the company’s stock, valued at approximately $651,600. This represents a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Lithia Motors by 13.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,474 shares of the company’s stock worth $2,487,000 after acquiring an additional 1,032 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Lithia Motors by 67.6% during the first quarter. Goldman Sachs Group Inc. now owns 113,346 shares of the company’s stock worth $33,272,000 after purchasing an additional 45,716 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Lithia Motors by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,170 shares of the company’s stock valued at $27,349,000 after purchasing an additional 13,407 shares in the last quarter. Voya Investment Management LLC grew its stake in Lithia Motors by 124.3% in the first quarter. Voya Investment Management LLC now owns 16,392 shares of the company’s stock valued at $4,812,000 after purchasing an additional 9,083 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Lithia Motors by 106.2% in the 2nd quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 69 shares during the last quarter.

About Lithia Motors

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.