Lithia Motors (NYSE:LAD) Shares Down 4.4% on Analyst Downgrade

Lithia Motors, Inc. (NYSE:LAD - Get Free Report) shares traded down 4.4% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $420.00 to $360.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as low as $292.00 and last traded at $293.70. 42,312 shares changed hands during trading, a decline of 86% from the average session volume of 295,493 shares. The stock had previously closed at $307.37.

Several other equities research analysts have also recently issued reports on the company. Benchmark reiterated a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. Evercore ISI boosted their price target on Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company upped their target price 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. 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 MarketBeat, Lithia Motors has an average rating of "Moderate Buy" and a consensus price target of $365.91.

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Insiders Place Their Bets

In related news, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total transaction of $80,676.00. Following the completion of the transaction, the director now owns 1,213 shares of the company's stock, valued at approximately $362,444.40. This trade represents a 18.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary M. Glandon sold 325 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 in the company, valued at approximately $645,786.90. The trade was a 16.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,246 shares of company stock valued at $433,724 over the last quarter. 0.87% of the stock is owned by insiders.

Hedge Funds Weigh In On Lithia Motors

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Lithia Motors by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock worth $426,968,000 after buying an additional 27,035 shares during the period. FMR LLC increased its position in shares of Lithia Motors by 12.8% during the third quarter. FMR LLC now owns 753,067 shares of the company's stock worth $239,204,000 after acquiring an additional 85,579 shares during the period. Lyrical Asset Management LP raised its stake in shares of 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 acquiring an additional 11,674 shares in the last quarter. Steadfast Capital Management LP boosted its holdings in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after purchasing an additional 266,715 shares during the period. Finally, Norges Bank purchased a new stake in Lithia Motors during the 4th quarter worth about $152,752,000.

Lithia Motors Stock Up 1.2 %

The firm has a 50 day moving average price of $340.16 and a 200-day moving average price of $343.32. 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 firm has a market cap of $7.71 billion, a PE ratio of 9.88, a PEG ratio of 4.65 and a beta of 1.69.

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

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.72%. Lithia Motors's dividend payout ratio (DPR) is presently 7.14%.

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.