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

Lithia Motors (NYSE:LAD) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $400.00 to $420.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.73% from the company’s previous close.

A number of other analysts also recently issued reports on LAD. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI raised their target price on Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday. Benchmark assumed coverage on Lithia Motors in a research note on Wednesday, January 8th. They issued a “buy” rating and a $400.00 price target for the company. Wells Fargo & Company increased their price target on Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Finally, Stephens boosted their price objective on Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $371.36.

Lithia Motors Stock Performance

NYSE:LAD traded down $8.68 during mid-day trading on Wednesday, hitting $366.08. The company’s stock had a trading volume of 101,697 shares, compared to its average volume of 401,847. The business’s fifty day moving average is $363.47 and its two-hundred day moving average is $336.38. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 4.90 and a beta of 1.67. 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 1 year low of $243.00 and a 1 year high of $405.67.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, topping 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%. Analysts anticipate that Lithia Motors will post 34.45 EPS for the current fiscal year.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, CEO Bryan B. Deboer sold 11,627 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $390.00, for a total value of $4,534,530.00. Following the completion of the sale, the chief executive officer now owns 181,187 shares in the company, valued at approximately $70,662,930. This represents a 6.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary M. Glandon sold 242 shares of Lithia Motors stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $382.86, for a total value of $92,652.12. Following the transaction, the insider now owns 1,729 shares in the company, valued at approximately $661,964.94. This represents a 12.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,339 shares of company stock worth $7,997,621. Corporate insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Lithia Motors during the 4th quarter valued at approximately $152,752,000. Egerton Capital UK LLP purchased a new position in Lithia Motors during the 4th quarter valued at about $113,250,000. Steadfast Capital Management LP grew its position in Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock valued at $164,524,000 after acquiring an additional 266,715 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in Lithia Motors during the fourth quarter worth about $91,190,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Lithia Motors during the fourth quarter worth about $46,505,000.

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.