Lithia Motors (NYSE:LAD) Price Target Cut to $400.00 by Analysts at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $405.00 to $400.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.61% from the stock’s current price.

Several other research firms have also recently issued reports on LAD. Citigroup boosted their target price on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on Lithia Motors from $343.00 to $346.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Guggenheim upped their price objective on Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Stephens raised their price target on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and an average price target of $361.27.

Lithia Motors Stock Performance

Shares of LAD traded down $2.88 on Friday, reaching $355.21. 29,371 shares of the company’s stock traded hands, compared to its average volume of 266,383. Lithia Motors has a 52-week low of $243.00 and a 52-week high of $405.67. The stock has a market cap of $9.46 billion, a PE ratio of 12.13, a PEG ratio of 4.77 and a beta of 1.67. The stock’s 50 day simple moving average is $368.96 and its two-hundred day simple moving average is $318.73. 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 posted its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. The business had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.25 EPS. On average, analysts forecast that Lithia Motors will post 29.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bryan B. Deboer sold 6,742 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $400.00, for a total value of $2,696,800.00. Following the sale, the chief executive officer now owns 174,445 shares of the company’s stock, valued at $69,778,000. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tina Miller sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total transaction of $392,720.00. Following the completion of the transaction, the chief financial officer now owns 10,403 shares in the company, valued at $4,085,466.16. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,290 shares of company stock worth $17,959,596 over the last ninety days. Corporate insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versor Investments LP boosted its position in shares of Lithia Motors by 7.0% in the 3rd quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after purchasing an additional 56 shares during the period. JPMorgan Chase & Co. lifted its position in Lithia Motors by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock valued at $82,560,000 after purchasing an additional 37,677 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Lithia Motors by 22.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 70,405 shares of the company’s stock valued at $17,774,000 after buying an additional 13,126 shares during the period. Bridges Investment Management Inc. boosted its position in shares of Lithia Motors by 118.9% during the 2nd quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock worth $40,609,000 after purchasing an additional 87,362 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Lithia Motors during the 3rd quarter worth $731,000.

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.