Lithia Motors (NYSE:LAD) Given New $335.00 Price Target at The Goldman Sachs Group

Lithia Motors (NYSE:LAD) had its price objective lifted by The Goldman Sachs Group from $300.00 to $335.00 in a research report report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on the company. Bank of America raised their price objective on Lithia Motors from $320.00 to $330.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Guggenheim cut Lithia Motors from a buy rating to a neutral rating in a research report on Friday, May 17th. Citigroup lowered their price objective on Lithia Motors from $320.00 to $280.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company lowered their price objective 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. Finally, StockNews.com raised Lithia Motors from a sell rating to a hold rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Lithia Motors currently has an average rating of Hold and a consensus target price of $313.90.

Lithia Motors Stock Down 1.8 %

Shares of NYSE LAD opened at $290.10 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $7.95 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 3.59 and a beta of 1.63. The stock’s fifty day simple moving average is $257.10 and its two-hundred day simple moving average is $273.75. Lithia Motors has a 12-month low of $231.36 and a 12-month high of $331.96.

Lithia Motors (NYSE:LAD) last announced its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.09 by $0.78. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Lithia Motors had a return on equity of 13.81% and a net margin of 2.52%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.91 EPS. As a group, analysts expect that Lithia Motors will post 27.62 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.73%. Lithia Motors’s payout ratio is currently 6.26%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the transaction, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Several institutional investors and hedge funds have recently modified their holdings of LAD. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Lithia Motors in the 4th quarter valued at about $49,000. Rise Advisors LLC increased its stake in shares of Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock valued at $57,000 after purchasing an additional 85 shares in the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Lithia Motors by 12,500.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock valued at $64,000 after purchasing an additional 250 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Lithia Motors in the 4th quarter valued at about $67,000.

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.