Wells Fargo & Company Trims Lithia Motors (NYSE:LAD) Target Price to $248.00

Lithia Motors (NYSE:LAD) had its price objective lowered by Wells Fargo & Company from $290.00 to $248.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group lifted their price target on Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a research note on Thursday, February 15th. StockNews.com cut shares of Lithia Motors from a hold rating to a sell rating in a report on Thursday, April 18th. Guggenheim dropped their target price on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley lifted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an underweight rating in a research note on Thursday, February 29th. Finally, Bank of America upped their price target on Lithia Motors from $380.00 to $385.00 and gave the company a buy rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $320.82.

Lithia Motors Price Performance

NYSE LAD traded up $4.38 on Thursday, hitting $262.11. The stock had a trading volume of 145,785 shares, compared to its average volume of 221,307. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 2.10 and a beta of 1.58. Lithia Motors has a 52-week low of $206.69 and a 52-week high of $331.96. The firm has a 50-day moving average of $284.15 and a 200-day moving average of $283.85. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.45 and a current ratio of 1.17.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the business posted $8.44 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. Equities analysts expect that Lithia Motors will post 34.78 EPS for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.53 dividend. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.81%. Lithia Motors’s payout ratio is presently 5.90%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $297.84, for a total value of $40,208.40. Following the sale, the director now owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Lithia Motors in the third quarter worth $32,000. Denali Advisors LLC raised its holdings in shares of Lithia Motors by 5,050.0% in the fourth quarter. Denali Advisors LLC now owns 103 shares of the company’s stock worth $34,000 after buying an additional 101 shares during the period. JFS Wealth Advisors LLC raised its stake in Lithia Motors by 509.5% in the third quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock worth $38,000 after buying an additional 107 shares in the last quarter. GAMMA Investing LLC acquired a new position in Lithia Motors during the 4th quarter valued at approximately $49,000. Finally, Rise Advisors LLC grew its position in Lithia Motors by 80.2% during the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares during the period.

About Lithia Motors

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.