Lithia Motors (NYSE:LAD) Given New $346.00 Price Target at Wells Fargo & Company

Lithia Motors (NYSE:LAD) had its price objective boosted by research analysts at Wells Fargo & Company from $343.00 to $346.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 2.53% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on LAD. Benchmark started coverage on Lithia Motors in a report on Wednesday, January 8th. They set a “buy” rating and a $400.00 target price for the company. Citigroup increased their price objective on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Morgan Stanley raised shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $225.00 to $310.00 in a research note on Wednesday, September 25th. Guggenheim increased their price target on shares of Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $361.73.

Lithia Motors Trading Up 1.5 %

LAD stock opened at $354.98 on Wednesday. The company has a market capitalization of $9.46 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 6.25 and a beta of 1.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.18. Lithia Motors has a one year low of $243.00 and a one year high of $405.67. The company’s 50 day moving average price is $369.31 and its two-hundred day moving average price is $318.14.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The company had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter last year, the company earned $9.25 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that Lithia Motors will post 29.42 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Chris Holzshu sold 8,520 shares of Lithia Motors stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at $10,744,821.34. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tina Miller sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $392.72, for a total transaction of $392,720.00. Following the completion of the sale, the chief financial officer now owns 10,403 shares in the company, valued at approximately $4,085,466.16. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,290 shares of company stock worth $17,959,596. Corporate insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Lithia Motors by 30.5% in the fourth quarter. GAMMA Investing LLC now owns 167 shares of the company’s stock worth $60,000 after acquiring an additional 39 shares during the last quarter. Cetera Investment Advisers boosted its stake in Lithia Motors by 1.3% in the 2nd quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after purchasing an additional 48 shares in the last quarter. Signaturefd LLC grew its position in Lithia Motors by 23.9% during 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. M&T Bank Corp increased its stake in Lithia Motors by 2.6% during the 3rd quarter. M&T Bank Corp now owns 1,911 shares of the company’s stock valued at $607,000 after purchasing an additional 49 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock worth $116,000 after buying an additional 52 shares during the last quarter.

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.