Lithia Motors (NYSE:LAD) Given New $405.00 Price Target at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its price objective raised by JPMorgan Chase & Co. from $375.00 to $405.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also issued reports on LAD. Stephens boosted their target price on Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $225.00 to $310.00 in a report on Wednesday, September 25th. Guggenheim lifted their price target on Lithia Motors from $350.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America increased their price target on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Citigroup upped their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $353.80.

Lithia Motors Stock Down 0.2 %

Shares of LAD traded down $0.69 during trading hours on Tuesday, reaching $367.80. The stock had a trading volume of 25,557 shares, compared to its average volume of 257,675. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. The firm has a 50-day simple moving average of $309.57 and a 200 day simple moving average of $280.34. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of 12.58 and a beta of 1.63. Lithia Motors has a 12 month low of $243.00 and a 12 month high of $375.15.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.25 EPS. Equities research analysts predict that Lithia Motors will post 28.99 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.58%. Lithia Motors’s dividend payout ratio is currently 7.24%.

Insiders Place Their Bets

In other Lithia Motors news, COO Chris Holzshu sold 8,520 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the transaction, the chief operating officer now directly owns 32,054 shares in the company, valued at $10,744,821.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the sale, the director now owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chris Holzshu sold 8,520 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the sale, the chief operating officer now owns 32,054 shares of the company’s stock, valued at $10,744,821.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,235 shares of company stock worth $9,301,973. 1.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cetera Investment Advisers increased its holdings in shares of Lithia Motors by 1.3% in the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock valued at $975,000 after purchasing an additional 48 shares during the last quarter. Signaturefd LLC lifted its position in shares of Lithia Motors by 23.9% during the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after purchasing an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock valued at $116,000 after purchasing an additional 52 shares during the period. Versor Investments LP raised its stake in Lithia Motors by 7.0% during the 3rd quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after acquiring an additional 56 shares during the last quarter. Finally, Blue Trust Inc. grew its position in 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 buying an additional 61 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.