JPMorgan Chase & Co. Lowers Lithia Motors (NYSE:LAD) Price Target to $270.00

Lithia Motors (NYSE:LAD) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $285.00 to $270.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.38% from the company’s previous close.

A number of other research firms also recently commented on LAD. The Goldman Sachs Group lifted their target price on Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Wells Fargo & Company reduced their price target on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Craig Hallum reduced their price target on Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. StockNews.com upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Morgan Stanley lifted their price target on Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $318.55.

Lithia Motors Stock Performance

Shares of Lithia Motors stock traded down $2.72 on Thursday, reaching $251.44. 124,792 shares of the stock were exchanged, compared to its average volume of 225,832. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. Lithia Motors has a twelve month low of $206.69 and a twelve month high of $331.96. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 2.26 and a beta of 1.59. The business has a 50 day moving average price of $280.91 and a two-hundred day moving average price of $283.35.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the firm earned $8.44 EPS. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts anticipate that Lithia Motors will post 33.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 directly owns 2,228 shares in the company, valued at $566,847.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Lithia Motors by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock worth $929,679,000 after purchasing an additional 15,962 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Lithia Motors by 0.3% during the third quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company’s stock worth $200,414,000 after buying an additional 2,200 shares during the last quarter. FMR LLC boosted its stake in Lithia Motors by 10.3% during the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after buying an additional 45,977 shares during the last quarter. Norges Bank acquired a new position in Lithia Motors during the fourth quarter worth $123,976,000. Finally, Cadian Capital Management LP acquired a new position in Lithia Motors during the fourth quarter worth $105,370,000.

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.