Lithia Motors (NYSE:LAD) PT Lowered to $270.00 at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its target price cut by JPMorgan Chase & Co. from $285.00 to $270.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also weighed in on the stock. StockNews.com upgraded shares of Lithia Motors from a sell rating to a hold rating in a research note on Friday, April 26th. Craig Hallum reduced their price target on shares of Lithia Motors from $350.00 to $310.00 and set a buy rating for the company in a report on Thursday, April 25th. Guggenheim reduced their price target on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating for the company in a report on Wednesday, April 17th. Citigroup reduced their price target on shares of Lithia Motors from $320.00 to $280.00 and set a neutral rating for the company in a report on Thursday, April 25th. Finally, Stephens reissued an overweight rating and set a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $318.55.

Lithia Motors Stock Up 0.9 %

LAD stock opened at $253.48 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. Lithia Motors has a 1-year low of $206.69 and a 1-year high of $331.96. The firm has a fifty day moving average price of $279.52 and a two-hundred day moving average price of $283.06. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 2.31 and a beta of 1.59.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share 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 15.62%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the firm earned $8.44 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Research analysts predict that Lithia Motors will post 32.24 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 9th. Lithia Motors’s dividend payout ratio is presently 5.90%.

Insider Activity

In other news, Director Shauna Mcintyre sold 138 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the transaction, the director now owns 2,228 shares in the company, valued at approximately $566,847.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

A number of large investors have recently made changes to their positions in LAD. Norges Bank acquired a new position in shares of Lithia Motors in the 4th quarter valued at about $123,976,000. Cadian Capital Management LP acquired a new position in Lithia Motors in the fourth quarter worth approximately $105,370,000. Wellington Management Group LLP increased its holdings in Lithia Motors by 413.6% in the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock worth $21,450,000 after buying an additional 52,458 shares during the last quarter. FMR LLC increased its holdings in Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after buying an additional 45,977 shares during the last quarter. Finally, Boston Partners increased its holdings in Lithia Motors by 67.5% in the fourth quarter. Boston Partners now owns 82,915 shares of the company’s stock worth $26,734,000 after buying an additional 33,405 shares during the last quarter.

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.