Citigroup Boosts Lithia Motors (NYSE:LAD) Price Target to $320.00

Lithia Motors (NYSE:LAD) had its price target hoisted by Citigroup from $280.00 to $320.00 in a report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently commented on the company. Stephens started coverage on Lithia Motors in a research report on Thursday, September 12th. They set an overweight rating and a $360.00 price target for the company. Wells Fargo & Company increased their target price on shares of Lithia Motors from $266.00 to $302.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Morgan Stanley upgraded shares of Lithia Motors from an underweight rating to an equal weight rating and boosted their price target for the stock from $225.00 to $310.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of Lithia Motors from $315.00 to $375.00 and gave the company an overweight rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group boosted their target price on Lithia Motors from $300.00 to $335.00 and gave the stock a neutral rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $338.00.

Lithia Motors Trading Up 1.8 %

Shares of LAD stock opened at $320.83 on Friday. Lithia Motors has a 1-year low of $231.36 and a 1-year high of $331.96. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.30 and a beta of 1.64. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30. The stock has a 50 day simple moving average of $284.70 and a 200-day simple moving average of $271.90.

Lithia Motors (NYSE:LAD) last announced its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.09 by $0.78. Lithia Motors had a net margin of 2.52% and a return on equity of 13.84%. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business earned $10.91 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts expect that Lithia Motors will post 28.78 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.26%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shauna Mcintyre sold 306 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the transaction, the director now owns 1,922 shares of the company’s stock, valued at approximately $556,707.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,021 shares of company stock worth $6,534,617. Company insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of Lithia Motors by 24.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,797 shares of the company’s stock valued at $16,397,000 after purchasing an additional 9,818 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Lithia Motors by 132.9% in the first quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company’s stock valued at $5,758,000 after buying an additional 10,920 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Lithia Motors in the second quarter valued at $607,000. Comerica Bank lifted its holdings in Lithia Motors by 89.0% during the 1st quarter. Comerica Bank now owns 29,473 shares of the company’s stock worth $8,867,000 after buying an additional 13,875 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Lithia Motors by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 203,062 shares of the company’s stock worth $61,318,000 after acquiring an additional 20,416 shares in the last quarter.

Lithia Motors Company Profile

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.