Lithia Motors (NYSE:LAD) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Lithia Motors (NYSE:LADFree Report) from a neutral rating to an overweight rating in a research note released on Monday morning, MarketBeat reports. They currently have $280.00 price objective on the stock, up from their previous price objective of $270.00.

LAD has been the subject of a number of other research reports. Citigroup dropped their price target on shares of Lithia Motors from $320.00 to $280.00 and set a neutral rating for the company in a research note on Thursday, April 25th. StockNews.com upgraded shares of Lithia Motors from a sell rating to a hold rating in a research note on Friday, April 26th. Bank of America boosted their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Stephens reiterated an overweight rating and set a $375.00 target price on shares of Lithia Motors in a research note on Wednesday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the company an underweight rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Lithia Motors presently has a consensus rating of Hold and a consensus target price of $319.45.

Check Out Our Latest Research Report on LAD

Lithia Motors Stock Down 2.7 %

Shares of NYSE:LAD opened at $256.53 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $262.34 and a 200 day simple moving average of $283.60. The firm has a market cap of $7.03 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 3.03 and a beta of 1.62. Lithia Motors has a 12-month low of $231.36 and a 12-month high of $331.96.

Lithia Motors (NYSE:LADGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $8.44 EPS. On average, equities research analysts anticipate that Lithia Motors will post 28.78 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.53 per share. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. Lithia Motors’s payout ratio is 6.26%.

Insider Activity

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

Institutional Investors Weigh In On Lithia Motors

Several institutional investors have recently bought and sold shares of LAD. Van ECK Associates Corp acquired a new stake in Lithia Motors in the third quarter worth about $1,262,000. Pathstone Family Office LLC lifted its holdings in Lithia Motors by 32.4% in the 3rd quarter. Pathstone Family Office LLC now owns 2,305 shares of the company’s stock valued at $681,000 after acquiring an additional 564 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Lithia Motors by 25.9% in the 3rd quarter. HighTower Advisors LLC now owns 1,400 shares of the company’s stock valued at $414,000 after acquiring an additional 288 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Lithia Motors by 6.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 23,354 shares of the company’s stock valued at $6,897,000 after acquiring an additional 1,410 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Lithia Motors by 1,288.3% in the 3rd quarter. UBS Group AG now owns 31,862 shares of the company’s stock valued at $9,410,000 after acquiring an additional 29,567 shares during the last quarter.

About Lithia Motors

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lithia Motors (NYSE:LAD)

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