Citigroup Cuts Lithia Motors (NYSE:LAD) Price Target to $280.00

Lithia Motors (NYSE:LAD) had its price objective trimmed by Citigroup from $320.00 to $280.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on LAD. Morgan Stanley raised their target price 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. Evercore ISI started coverage on shares of Lithia Motors in a research note on Wednesday, January 17th. They set an outperform rating and a $400.00 target price on the stock. Stephens restated an overweight rating and set a $375.00 target price on shares of Lithia Motors in a research note on Wednesday, February 14th. Wells Fargo & Company decreased their target price on shares of Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group increased their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Lithia Motors presently has an average rating of Hold and an average target price of $320.82.

Lithia Motors Stock Up 2.0 %

Shares of NYSE:LAD traded up $5.19 during midday trading on Thursday, reaching $262.92. The company’s stock had a trading volume of 220,479 shares, compared to its average volume of 222,137. The firm has a 50 day moving average of $284.15 and a 200-day moving average of $283.85. The firm has a market capitalization of $7.24 billion, a P/E ratio of 7.61, a PEG ratio of 2.10 and a beta of 1.58. The company has a quick ratio of 0.45, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. Lithia Motors has a 12-month low of $206.69 and a 12-month high of $331.96.

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 analysts’ consensus estimates of $7.85 by ($1.74). The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $8.44 earnings per share. On average, research analysts anticipate that Lithia Motors will post 34.78 earnings per share for the current year.

Lithia Motors Increases Dividend

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

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the 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 completion of the transaction, the director now directly owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction 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

Hedge funds have recently modified their holdings of the business. FourThought Financial Partners LLC boosted its holdings in Lithia Motors by 2.4% during the 4th quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock valued at $530,000 after acquiring an additional 37 shares during the period. Xponance Inc. raised its position in Lithia Motors by 1.1% in the 4th quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after purchasing an additional 38 shares in the last quarter. Fifth Third Bancorp raised its position in Lithia Motors by 32.0% in the 3rd quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock valued at $68,000 after purchasing an additional 56 shares in the last quarter. Victory Capital Management Inc. raised its position in Lithia Motors by 0.3% in the 3rd quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock valued at $5,054,000 after purchasing an additional 59 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Lithia Motors by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock valued at $3,510,000 after purchasing an additional 60 shares in 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.