Craig Hallum Cuts Lithia Motors (NYSE:LAD) Price Target to $310.00

Lithia Motors (NYSE:LAD) had its price target lowered by stock analysts at Craig Hallum from $350.00 to $310.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 20.64% from the company’s previous close.

A number of other research firms have also weighed in on LAD. Guggenheim decreased 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 note on Wednesday, April 17th. The Goldman Sachs Group raised their target price on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Evercore ISI began coverage on shares of Lithia Motors in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Lithia Motors presently has an average rating of “Hold” and an average price target of $326.27.

Lithia Motors Price Performance

LAD stock traded up $8.62 during trading on Thursday, hitting $256.96. The stock had a trading volume of 385,376 shares, compared to its average volume of 216,574. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.41 and a quick ratio of 0.45. Lithia Motors has a twelve month low of $206.69 and a twelve month high of $331.96. The stock has a market capitalization of $7.07 billion, a P/E ratio of 7.03, a PEG ratio of 2.24 and a beta of 1.58. The company’s 50-day moving average price is $284.15 and its two-hundred day moving average price is $283.85.

Lithia Motors (NYSE:LAD) last posted 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 return on equity of 17.33% and a net margin of 3.22%. The firm 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 firm posted $8.44 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, research analysts predict that Lithia Motors will post 34.78 EPS for the current fiscal year.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction that occurred 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 $495,010.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

Several institutional investors have recently modified their holdings of LAD. Mariner LLC grew its stake in shares of Lithia Motors by 4.1% during the third quarter. Mariner LLC now owns 4,401 shares of the company’s stock worth $1,300,000 after purchasing an additional 174 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Lithia Motors by 33.7% during the third quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock worth $10,385,000 after purchasing an additional 8,862 shares in the last quarter. Citigroup Inc. grew its stake in shares of Lithia Motors by 95.6% during the third quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock worth $3,736,000 after purchasing an additional 6,181 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Lithia Motors by 93.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 9,412 shares of the company’s stock valued at $2,780,000 after acquiring an additional 4,541 shares during the last quarter. Finally, Comerica Bank purchased a new stake in Lithia Motors in the third quarter valued at $4,608,000.

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.