Lithia Motors (NYSE:LAD) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. cut shares of Lithia Motors (NYSE:LAD) from an overweight rating to a neutral rating in a report published on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $335.00 target price on the stock.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company lowered their target price 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. Citigroup increased their target price on shares of Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Barclays lowered their price target on shares of Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday. Evercore upped their price objective on shares of Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Finally, Benchmark reissued a “buy” rating on shares of Lithia Motors in a research note on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Lithia Motors currently has an average rating of “Moderate Buy” and an average target price of $386.00.

Lithia Motors Price Performance

NYSE:LAD opened at $293.71 on Friday. The stock has a 50 day moving average of $329.25 and a two-hundred day moving average of $321.21. Lithia Motors has a 12 month low of $262.10 and a 12 month high of $363.78. The firm has a market cap of $7.12 billion, a P/E ratio of 9.14 and a beta of 1.20. The company has a current ratio of 1.17, a quick ratio of 0.26 and a debt-to-equity ratio of 1.46.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business earned $7.79 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts expect that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

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 given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, March 6th. Lithia Motors’s payout ratio is presently 6.85%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lithia Motors

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithia Motors by 13.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,474 shares of the company’s stock valued at $2,487,000 after buying an additional 1,032 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Lithia Motors by 67.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,346 shares of the company’s stock valued at $33,272,000 after acquiring an additional 45,716 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lithia Motors by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,170 shares of the company’s stock worth $27,349,000 after acquiring an additional 13,407 shares during the last quarter. CWM LLC boosted its position in shares of Lithia Motors by 79.7% during the 2nd quarter. CWM LLC now owns 381 shares of the company’s stock worth $129,000 after purchasing an additional 169 shares during the period. Finally, Forum Financial Management LP increased its holdings in Lithia Motors by 27.9% in the 2nd quarter. Forum Financial Management LP now owns 881 shares of the company’s stock valued at $298,000 after purchasing an additional 192 shares during the last quarter.

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.