JPMorgan Chase & Co. Has Lowered Expectations for Lithia Motors (NYSE:LAD) Stock Price

Lithia Motors (NYSE:LAD) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $420.00 to $360.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 21.72% from the company’s current price.

LAD has been the topic of a number of other research reports. Benchmark reissued a “buy” rating and set a $400.00 price objective on shares of Lithia Motors in a research report on Thursday, February 20th. 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 report on Thursday, February 13th. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI increased their target price on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of “Moderate Buy” and a consensus price target of $365.91.

Lithia Motors Trading Down 3.8 %

NYSE LAD traded down $11.62 during trading hours on Thursday, hitting $295.76. 140,592 shares of the company’s stock were exchanged, compared to its average volume of 370,963. Lithia Motors has a 1-year low of $243.00 and a 1-year high of $405.67. 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 stock has a 50-day simple moving average of $342.65 and a 200 day simple moving average of $342.43. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 4.65 and a beta of 1.69.

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

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 248 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the sale, the director now directly owns 1,297 shares of the company’s stock, valued at approximately $377,219.48. This trade represents a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Chamberlain sold 403 shares of Lithia Motors stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the sale, the chief operating officer now owns 2,605 shares in the company, valued at $1,001,049.40. This trade represents a 13.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,246 shares of company stock valued at $433,724 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Lithia Motors

A number of large investors have recently added to or reduced their stakes in LAD. Wellington Management Group LLP grew its position in shares of Lithia Motors by 9.7% during the 4th quarter. Wellington Management Group LLP now owns 10,528 shares of the company’s stock valued at $3,763,000 after acquiring an additional 930 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Lithia Motors by 8.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 844 shares of the company’s stock valued at $302,000 after purchasing an additional 64 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Lithia Motors in the fourth quarter worth $5,877,000. Forum Financial Management LP bought a new stake in shares of Lithia Motors in the fourth quarter valued at $202,000. Finally, Peak Retirement Planning Inc. purchased a new position in shares of Lithia Motors during the 4th quarter valued at $874,000.

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.