Lithia Motors Inc (NYSE:LAD)’s share price traded up 8.3% during mid-day trading on Thursday after Craig Hallum raised their price target on the stock from $260.00 to $300.00. Craig Hallum currently has a buy rating on the stock. Lithia Motors traded as high as $248.38 and last traded at $246.77. 2,596,231 shares were traded during mid-day trading, an increase of 686% from the average session volume of 330,292 shares. The stock had previously closed at $227.94.
Several other equities research analysts have also recently weighed in on LAD. Benchmark increased their target price on Lithia Motors from $240.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Guggenheim raised their target price on shares of Lithia Motors from $233.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. ValuEngine upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their price target on shares of Lithia Motors from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Finally, Morgan Stanley boosted their price objective on shares of Lithia Motors from $180.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $240.14.
In other Lithia Motors news, SVP Thomas Dobry sold 2,321 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $241.43, for a total value of $560,359.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sidney B. Deboer sold 11,520 shares of Lithia Motors stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $235.00, for a total value of $2,707,200.00. Following the sale, the director now directly owns 53,055 shares in the company, valued at $12,467,925. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,464 shares of company stock valued at $7,596,831. 3.95% of the stock is owned by corporate insiders.
The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.30 and a current ratio of 1.20. The stock has a market capitalization of $5.20 billion, a P/E ratio of 20.37 and a beta of 1.81. The business has a 50-day moving average price of $244.83 and a 200 day moving average price of $158.47.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $2.18. Lithia Motors had a return on equity of 19.36% and a net margin of 2.28%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.32 billion. As a group, research analysts forecast that Lithia Motors Inc will post 13.82 earnings per share for the current fiscal year.
About Lithia Motors (NYSE:LAD)
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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