JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lithia Motors (NYSE:LAD) Stock

Lithia Motors (NYSE:LAD) had its target price lifted by analysts at JPMorgan Chase & Co. from $375.00 to $405.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.70% from the company’s current price.

Several other research firms have also recently weighed in on LAD. The Goldman Sachs Group boosted their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Bank of America raised their price target on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Guggenheim upped their price objective on Lithia Motors from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Citigroup raised their target price on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lithia Motors currently has an average rating of “Hold” and a consensus target price of $353.80.

Lithia Motors Stock Performance

LAD stock opened at $369.18 on Tuesday. The stock has a market capitalization of $9.83 billion, a PE ratio of 12.60 and a beta of 1.63. The stock’s 50 day simple moving average is $308.28 and its 200 day simple moving average is $279.73. Lithia Motors has a 12-month low of $243.00 and a 12-month high of $375.08. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The firm had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same period in the prior year, the company posted $9.25 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Lithia Motors will post 28.99 earnings per share for the current fiscal year.

Insider Activity at Lithia Motors

In other Lithia Motors news, COO Chris Holzshu sold 8,520 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the sale, the chief operating officer now owns 32,054 shares in the company, valued at approximately $10,744,821.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the transaction, the director now owns 35,352 shares of the company’s stock, valued at $9,754,677.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Chris Holzshu sold 8,520 shares of Lithia Motors stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the sale, the chief operating officer now directly owns 32,054 shares in the company, valued at $10,744,821.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,235 shares of company stock worth $9,301,973. 1.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of Lithia Motors by 83.6% in the second quarter. Blue Trust Inc. now owns 134 shares of the company’s stock worth $34,000 after buying an additional 61 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Lithia Motors in the 3rd quarter worth $35,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Lithia Motors by 12,500.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock valued at $64,000 after purchasing an additional 250 shares during the last quarter. Signaturefd LLC grew its position in shares of Lithia Motors by 23.9% during the third quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $79,000 after purchasing an additional 48 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lithia Motors in the second quarter worth about $80,000.

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