Lithia Motors (NYSE:LAD) Given New $420.00 Price Target at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $400.00 to $420.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 19.85% from the company's previous close.

Other analysts have also issued reports about the stock. Evercore ISI upped their price objective on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Tuesday. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. Wells Fargo & Company increased their price target on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Stephens upped their price objective on Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Benchmark assumed coverage on Lithia Motors in a research report on Wednesday, January 8th. They issued a "buy" rating and a $400.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $371.36.

Lithia Motors Trading Down 2.8 %

Shares of LAD traded down $10.26 during trading hours on Wednesday, reaching $350.44. 299,531 shares of the company traded hands, compared to its average volume of 399,933. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 4.70 and a beta of 1.67. Lithia Motors has a 12-month low of $243.00 and a 12-month high of $405.67. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The stock's fifty day moving average price is $362.73 and its 200 day moving average price is $337.33.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. Sell-side analysts forecast that Lithia Motors will post 34.45 earnings per share for the current year.

Insider Activity at Lithia Motors

In other Lithia Motors news, insider Gary M. Glandon sold 325 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the completion of the sale, the insider now directly owns 1,665 shares of the company's stock, valued at $645,786.90. This trade represents a 16.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adam Chamberlain sold 403 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company's stock, valued at $1,001,049.40. This trade represents a 13.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,470 shares of company stock valued at $3,370,439. 1.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Lithia Motors

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versor Investments LP grew its position in shares of Lithia Motors by 7.0% during the third quarter. Versor Investments LP now owns 856 shares of the company's stock worth $272,000 after buying an additional 56 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Lithia Motors by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company's stock worth $82,560,000 after buying an additional 37,677 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Lithia Motors during the third quarter worth about $731,000. Nisa Investment Advisors LLC grew its position in shares of Lithia Motors by 1,073.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company's stock worth $990,000 after buying an additional 2,534 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Lithia Motors during the third quarter worth about $248,000.

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.