Lithia Motors (NYSE:LAD) Price Target Cut to $326.00 by Analysts at Citigroup

Lithia Motors (NYSE:LAD) had its target price cut by analysts at Citigroup from $366.00 to $326.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 23.51% from the stock’s previous close.

Several other research firms have also weighed in on LAD. Bank of America started coverage on shares of Lithia Motors in a research note on Wednesday, March 4th. They issued a “neutral” rating on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lithia Motors in a research note on Thursday, January 22nd. Barclays dropped their price objective on shares of Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wall Street Zen lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Zacks Research lowered shares of Lithia Motors from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $376.78.

Lithia Motors Trading Up 0.9%

Shares of LAD stock traded up $2.40 during trading hours on Wednesday, reaching $263.94. 224,832 shares of the stock traded hands, compared to its average volume of 317,426. Lithia Motors has a 1-year low of $239.78 and a 1-year high of $360.55. The business has a fifty day moving average price of $281.41 and a 200 day moving average price of $307.18. The company has a quick ratio of 0.26, a current ratio of 1.17 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $6.17 billion, a PE ratio of 8.23, a PEG ratio of 0.60 and a beta of 1.22.

Lithia Motors (NYSE:LAD) last released 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 firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.79 EPS. On average, equities research analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Institutional Trading of Lithia Motors

Several large investors have recently added to or reduced their stakes in LAD. CoreCap Advisors LLC bought a new stake in Lithia Motors in the third quarter worth approximately $26,000. Eastern Bank bought a new stake in shares of Lithia Motors during the 3rd quarter worth $31,000. Root Financial Partners LLC acquired a new stake in shares of Lithia Motors in the third quarter valued at about $31,000. Clearstead Advisors LLC increased its stake in shares of Lithia Motors by 111.4% in the fourth quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 49 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Lithia Motors by 75.0% in the third quarter. Parkside Financial Bank & Trust now owns 105 shares of the company’s stock worth $33,000 after purchasing an additional 45 shares during the period.

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.