Lithia Motors (NYSE:LAD) Given New $360.00 Price Target at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $420.00 to $360.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 21.72% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Benchmark reaffirmed a “buy” rating and set a $400.00 price target on shares of Lithia Motors in a research report on Thursday, February 20th. Wells Fargo & Company raised 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. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI boosted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.91.

Lithia Motors Stock Performance

LAD traded down $11.62 on Thursday, reaching $295.76. The company had a trading volume of 140,592 shares, compared to its average volume of 370,963. The company’s fifty day moving average is $342.65 and its 200 day moving average is $342.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. The stock has a market cap of $7.77 billion, a P/E ratio of 9.96, a P/E/G ratio of 4.65 and a beta of 1.69. Lithia Motors has a fifty-two week low of $243.00 and a fifty-two week high of $405.67.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. As a group, analysts predict that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $387.86, for a total transaction of $126,054.50. Following the sale, the insider now directly owns 1,665 shares of the company’s stock, valued at approximately $645,786.90. This trade represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the transaction, the director now directly owns 1,213 shares of the company’s stock, valued at $362,444.40. This represents a 18.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,246 shares of company stock worth $433,724. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. bought a new position in shares of Lithia Motors during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new stake in Lithia Motors during the 4th quarter valued at approximately $35,000. UMB Bank n.a. raised its holdings in Lithia Motors by 69.9% during the 4th quarter. UMB Bank n.a. now owns 124 shares of the company’s stock worth $44,000 after purchasing an additional 51 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Lithia Motors by 33.9% in the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock worth $52,000 after purchasing an additional 37 shares during the period. Finally, Rakuten Securities Inc. lifted its position in shares of Lithia Motors by 1,420.0% in the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock worth $54,000 after purchasing an additional 142 shares during the period.

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.