Lithia Motors (NYSE:LAD) Price Target Raised to $418.00 at Guggenheim

Lithia Motors (NYSE:LAD) had its target price hoisted by equities research analysts at Guggenheim from $380.00 to $418.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 9.45% from the company’s previous close.

A number of other brokerages have also commented on LAD. The Goldman Sachs Group raised their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Stephens raised their price objective on shares of Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.60.

Lithia Motors Trading Up 2.9 %

Shares of Lithia Motors stock traded up $10.76 during trading hours on Thursday, hitting $381.91. The company’s stock had a trading volume of 56,294 shares, compared to its average volume of 259,350. Lithia Motors has a 12 month low of $243.00 and a 12 month high of $388.36. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. The company has a market capitalization of $10.17 billion, a PE ratio of 13.01 and a beta of 1.63. The stock has a 50 day moving average of $326.09 and a 200 day moving average of $287.84.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, topping the consensus estimate of $7.60 by $0.61. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The firm had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same period last year, the company posted $9.25 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts predict that Lithia Motors will post 29.09 earnings per share for the current year.

Insider Activity

In related news, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the completion of the transaction, the director now directly owns 35,352 shares in the company, valued at $9,754,677.36. This represents a 23.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chris Holzshu sold 8,520 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the transaction, the chief operating officer now owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This represents a 21.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,394 shares of company stock worth $16,688,879. 1.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

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

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