Lithia Motors (NYSE:LAD) Price Target Raised to $370.00

Lithia Motors (NYSE:LAD) had its target price lifted by stock analysts at UBS Group from $348.00 to $370.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 15.79% from the company’s current price.

LAD has been the subject of several other reports. Zacks Research upgraded Lithia Motors from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Bank of America increased their price target on Lithia Motors from $350.00 to $417.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen lowered Lithia Motors from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Barclays reduced their target price on Lithia Motors from $380.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Lithia Motors presently has a consensus rating of “Moderate Buy” and an average target price of $381.44.

Lithia Motors Stock Up 2.4%

Shares of NYSE LAD traded up $7.57 on Friday, hitting $319.55. The company had a trading volume of 75,479 shares, compared to its average volume of 310,069. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. Lithia Motors has a 12-month low of $239.78 and a 12-month high of $360.55. The firm has a market capitalization of $7.29 billion, a P/E ratio of 11.21, a PEG ratio of 0.67 and a beta of 1.26. The business has a 50 day moving average of $291.87 and a two-hundred day moving average of $294.52.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, topping the consensus estimate of $7.06 by $0.28. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $7.66 EPS. Lithia Motors’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Lithia Motors will post 34.37 earnings per share for the current fiscal year.

Lithia Motors declared that its board has authorized a stock buyback plan on Tuesday, May 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Richard J. Bailey, Jr. sold 297 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total value of $83,329.29. Following the completion of the sale, the director directly owned 760 shares in the company, valued at approximately $213,233.20. The trade was a 28.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shauna Mcintyre sold 165 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total value of $50,430.60. Following the sale, the director directly owned 1,681 shares of the company’s stock, valued at $513,780.84. The trade was a 8.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 782 shares of company stock valued at $229,572. 1.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Lithia Motors

Large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in Lithia Motors by 18.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,075 shares of the company’s stock valued at $603,000 after acquiring an additional 325 shares during the period. Crumly & Associates Inc. grew its position in shares of Lithia Motors by 3.6% in the second quarter. Crumly & Associates Inc. now owns 1,246 shares of the company’s stock valued at $362,000 after purchasing an additional 43 shares during the last quarter. Red Spruce Capital LLC increased its stake in shares of Lithia Motors by 3.2% in the second quarter. Red Spruce Capital LLC now owns 9,348 shares of the company’s stock worth $2,716,000 after purchasing an additional 288 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of Lithia Motors by 3.7% in the second quarter. 180 Wealth Advisors LLC now owns 9,116 shares of the company’s stock worth $2,648,000 after purchasing an additional 328 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Lithia Motors by 32.1% during the 2nd quarter. GAMMA Investing LLC now owns 173 shares of the company’s stock worth $50,000 after purchasing an additional 42 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.