Brokerages Set Lithia Motors, Inc. (NYSE:LAD) Price Target at $386.00

Lithia Motors, Inc. (NYSE:LAD) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $382.3333.

Several brokerages have issued reports on LAD. Evercore boosted their target price on Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Bank of America initiated coverage on shares of Lithia Motors in a research note on Wednesday, March 4th. They set a “neutral” rating for the company. Wells Fargo & Company decreased their price objective on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Barclays dropped their target price on shares of Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd.

Lithia Motors Trading Down 2.5%

NYSE:LAD traded down $6.37 during midday trading on Monday, hitting $253.28. 62,951 shares of the company traded hands, compared to its average volume of 295,266. The company has a current ratio of 1.17, a quick ratio of 0.26 and a debt-to-equity ratio of 1.46. The firm’s fifty day moving average is $315.60 and its 200-day moving average is $319.65. The firm has a market capitalization of $5.92 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.59 and a beta of 1.20. Lithia Motors has a 12-month low of $251.00 and a 12-month high of $360.55.

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

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, March 6th. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. Lithia Motors’s dividend payout ratio (DPR) is currently 6.85%.

Insider Buying and Selling at Lithia Motors

In related news, Director Congdon Stacy Loretz sold 75 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $360.00, for a total value of $27,000.00. Following the completion of the sale, the director directly owned 1,810 shares of the company’s stock, valued at $651,600. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by insiders.

Hedge Funds Weigh In On Lithia Motors

A number of hedge funds and other institutional investors have recently modified their holdings of LAD. CoreCap Advisors LLC acquired a new stake in shares of Lithia Motors in the 3rd quarter worth $26,000. Bessemer Group Inc. raised its stake in Lithia Motors by 114.6% in the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Lithia Motors by 1,383.3% in the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after acquiring an additional 83 shares in the last quarter. Eastern Bank acquired a new stake in Lithia Motors in the third quarter worth about $31,000. Finally, Root Financial Partners LLC acquired a new position in shares of Lithia Motors during the third quarter valued at about $31,000.

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.