Lithia Motors (NYSE:LAD) Price Target Raised to $129.00

Lithia Motors (NYSE:LAD) had its price target boosted by Morgan Stanley from $128.00 to $129.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on LAD. Zacks Investment Research upgraded shares of Green Brick Partners from a sell rating to a hold rating in a report on Wednesday, April 10th. Craig Hallum restated a buy rating and set a $125.00 price target (up from $103.00) on shares of Lithia Motors in a report on Thursday, April 25th. ValuEngine raised shares of Vistra Energy from a hold rating to a buy rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a research report on Tuesday. They issued an underweight rating and a $20.48 price objective for the company. Finally, Longbow Research reaffirmed a hold rating on shares of Cooper Tire & Rubber in a research report on Sunday, July 7th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $120.56.

LAD opened at $119.25 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.23 and a current ratio of 1.17. The business’s fifty day simple moving average is $118.27. Lithia Motors has a 1-year low of $67.90 and a 1-year high of $124.23. The firm has a market capitalization of $2.76 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.12.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, April 24th. The company reported $2.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.29. Lithia Motors had a net margin of 2.25% and a return on equity of 20.68%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Lithia Motors will post 11.02 earnings per share for the current year.

In other news, Director Sidney B. Deboer sold 15,433 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $114.00, for a total transaction of $1,759,362.00. Following the completion of the transaction, the director now directly owns 11,144 shares of the company’s stock, valued at approximately $1,270,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.21% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new stake in shares of Lithia Motors during the fourth quarter valued at about $399,000. BlackRock Inc. lifted its position in shares of Lithia Motors by 1.0% during the fourth quarter. BlackRock Inc. now owns 3,441,382 shares of the company’s stock valued at $262,683,000 after buying an additional 33,078 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lithia Motors by 15.1% during the fourth quarter. Bank of New York Mellon Corp now owns 379,835 shares of the company’s stock valued at $28,993,000 after buying an additional 49,888 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Lithia Motors by 1.0% during the fourth quarter. Texas Permanent School Fund now owns 14,743 shares of the company’s stock valued at $1,125,000 after buying an additional 142 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Lithia Motors during the fourth quarter valued at about $385,000.

About Lithia Motors

Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.

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Analyst Recommendations for Lithia Motors (NYSE:LAD)

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