Lithia Motors (NYSE:LAD) Coverage Initiated by Analysts at Barclays

Equities research analysts at Barclays started coverage on shares of Lithia Motors (NYSE:LAD) in a report released on Wednesday. The firm set an “overweight” rating and a $410.00 price target on the stock. Barclays‘s price objective suggests a potential upside of 39.90% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Bank of America dropped their target price on Lithia Motors from $500.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Citigroup raised their target price on Lithia Motors from $385.00 to $399.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price target on Lithia Motors from $320.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Jefferies Financial Group began coverage on shares of Lithia Motors in a report on Thursday, September 4th. They issued a “buy” rating and a $400.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $383.10.

Lithia Motors Price Performance

Shares of NYSE LAD opened at $293.06 on Wednesday. The firm has a 50-day simple moving average of $318.70 and a 200-day simple moving average of $318.52. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.67 and a beta of 1.29. The company has a quick ratio of 0.30, a current ratio of 1.21 and a debt-to-equity ratio of 1.35. Lithia Motors has a 52 week low of $262.10 and a 52 week high of $405.67.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.97. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same period in the previous year, the business posted $8.21 earnings per share. Lithia Motors’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts predict that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Lithia Motors declared that its board has approved a stock repurchase program on Tuesday, August 26th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Lithia Motors

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of Lithia Motors by 4.4% in the first quarter. Invesco Ltd. now owns 119,466 shares of the company’s stock worth $35,068,000 after acquiring an additional 5,005 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of Lithia Motors by 9.9% in the first quarter. Madison Asset Management LLC now owns 280,456 shares of the company’s stock valued at $82,325,000 after acquiring an additional 25,331 shares in the last quarter. Scotia Capital Inc. purchased a new position in Lithia Motors in the first quarter valued at $3,505,000. Nuveen LLC purchased a new position in Lithia Motors in the first quarter valued at $32,824,000. Finally, Jump Financial LLC acquired a new position in Lithia Motors during the 1st quarter worth $7,046,000.

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.