Lithia Motors (NYSE:LAD) Stock Rating Upgraded by JPMorgan Chase & Co. (2024)

Posted by MarketBeat News on Jun 11th, 2024

JPMorgan Chase & Co. upgraded shares of Lithia Motors (NYSE:LAD – Free Report) from a neutral rating to an overweight rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have $280.00 price target on the stock, up from their previous price target of $270.00.

Several other research analysts also recently issued reports on LAD. Bank of America upped their price target on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Citigroup reduced their price target on shares of Lithia Motors from $320.00 to $280.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. StockNews.com upgraded shares of Lithia Motors from a sell rating to a hold rating in a research report on Friday, April 26th. Craig Hallum reduced their price target on shares of Lithia Motors from $350.00 to $310.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group upped their price target on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $319.45.

Read Our Latest Report on Lithia Motors

Lithia Motors Stock Up 0.7 %

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Shares of NYSE:LAD opened at $260.00 on Monday. Lithia Motors has a 52 week low of $231.36 and a 52 week high of $331.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17. The company’s fifty day moving average is $264.08 and its 200-day moving average is $283.91. The company has a market capitalization of $7.13 billion, a PE ratio of 7.68, a P/E/G ratio of 3.01 and a beta of 1.62.

Lithia Motors (NYSE:LAD – Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the firm posted $8.44 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities research analysts predict that Lithia Motors will post 28.78 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.53 per share. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 0.82%. The ex-dividend date was Thursday, May 9th. Lithia Motors’s payout ratio is currently 6.26%.

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 138 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the completion of the sale, the director now directly owns 2,228 shares of the company’s stock, valued at approximately $566,847.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Lithia Motors by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock valued at $929,679,000 after acquiring an additional 15,962 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Lithia Motors by 7.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after acquiring an additional 48,938 shares during the last quarter. FMR LLC increased its stake in shares of Lithia Motors by 10.3% in the 3rd quarter. FMR LLC now owns 492,273 shares of the company’s stock valued at $145,383,000 after acquiring an additional 45,977 shares during the last quarter. Norges Bank bought a new stake in Lithia Motors during the 4th quarter worth approximately $123,976,000. Finally, Cadian Capital Management LP bought a new stake in Lithia Motors during the 4th quarter worth approximately $105,370,000.

About Lithia Motors

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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.