Lithia Motors (NYSE:LAD) Price Target Lowered to $380.00 at Barclays

Lithia Motors (NYSE:LAD) had its target price cut by Barclays from $390.00 to $380.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 29.97% from the stock’s current price.

LAD has been the topic of several other reports. Citigroup raised their target price on shares of Lithia Motors from $385.00 to $399.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. reduced their target price on Lithia Motors from $355.00 to $350.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Benchmark reaffirmed a “buy” rating on shares of Lithia Motors in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $388.90.

Lithia Motors Price Performance

LAD stock traded down $8.95 during trading on Tuesday, hitting $292.37. The stock had a trading volume of 36,713 shares, compared to its average volume of 276,924. Lithia Motors has a twelve month low of $262.10 and a twelve month high of $378.96. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.17 and a quick ratio of 0.26. The stock has a market capitalization of $7.09 billion, a P/E ratio of 9.14 and a beta of 1.20. The company’s 50-day moving average price is $332.99 and its two-hundred day moving average price is $321.33.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.09 by ($1.35). The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $7.79 earnings per share. As a group, research analysts predict that Lithia Motors will post 34.45 EPS for the current fiscal year.

Insider Activity at Lithia Motors

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 shares were 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 in the company, valued at approximately $651,600. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAD. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Lithia Motors during the 3rd quarter valued at approximately $1,601,000. Bridges Investment Management Inc. grew its position in Lithia Motors by 3.0% in the third quarter. Bridges Investment Management Inc. now owns 263,157 shares of the company’s stock valued at $83,158,000 after acquiring an additional 7,558 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in Lithia Motors during the 3rd quarter worth $557,000. Hennessy Advisors Inc. purchased a new stake in shares of Lithia Motors during the third quarter worth about $39,342,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Lithia Motors during the second quarter worth approximately $578,000.

Lithia Motors Company Profile

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.