Wells Fargo & Company Cuts Lithia Motors (NYSE:LAD) Price Target to $308.00

Lithia Motors (NYSE:LAD - Get Free Report) had its price target reduced by analysts at Wells Fargo & Company from $397.00 to $308.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 4.31% from the company's current price.

LAD has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Benchmark restated a "buy" rating and issued a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Evercore ISI increased their price objective on Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $356.55.

Lithia Motors Trading Up 1.1 %

Shares of NYSE:LAD traded up $3.10 during midday trading on Monday, reaching $295.27. 57,369 shares of the company's stock were exchanged, compared to its average volume of 312,573. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 4.65 and a beta of 1.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors has a fifty-two week low of $243.00 and a fifty-two week high of $405.68. The firm's 50 day simple moving average is $306.73 and its two-hundred day simple moving average is $340.59.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($0.11). The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, sell-side analysts forecast that Lithia Motors will post 34.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Adam Chamberlain sold 403 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were 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 owns 2,605 shares in the company, valued at $1,001,049.40. This trade represents a 13.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction that occurred 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 transaction, the insider now owns 1,665 shares of the company's stock, valued at $645,786.90. This represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,246 shares of company stock valued at $433,724. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lithia Motors

A number of institutional investors have recently added to or reduced their stakes in LAD. Dimensional Fund Advisors LP increased its position in shares of Lithia Motors by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock worth $426,968,000 after acquiring an additional 27,035 shares in the last quarter. Lyrical Asset Management LP raised its position in Lithia Motors by 2.3% in the fourth quarter. Lyrical Asset Management LP now owns 510,388 shares of the company's stock valued at $182,428,000 after purchasing an additional 11,674 shares during the period. Steadfast Capital Management LP boosted its position in shares of Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after buying an additional 266,715 shares during the period. Norges Bank acquired a new position in Lithia Motors during the 4th quarter worth approximately $152,752,000. Finally, Royal London Asset Management Ltd. grew its position in Lithia Motors by 18.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after acquiring an additional 55,142 shares in the last quarter.

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.