Lithia Motors (LAD) Given New $120.00 Price Target at Buckingham Research

Lithia Motors (NYSE:LAD) had its price objective boosted by Buckingham Research from $106.00 to $120.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. Buckingham Research currently has a buy rating on the stock.

A number of other research firms also recently weighed in on LAD. ValuEngine raised shares of Lithia Motors from a sell rating to a hold rating in a research report on Wednesday, April 24th. Craig Hallum reaffirmed a buy rating and issued a $125.00 target price (up previously from $103.00) on shares of Lithia Motors in a research report on Thursday. Stephens raised shares of Lithia Motors from an equal weight rating to an overweight rating and lifted their price objective for the company from $106.00 to $132.00 in a research report on Thursday. Morgan Stanley lifted their price objective on shares of Lithia Motors from $99.00 to $104.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Finally, Zacks Investment Research raised shares of Lithia Motors from a sell rating to a hold rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $114.13.

Lithia Motors stock opened at $112.62 on Thursday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.19. Lithia Motors has a 1-year low of $67.90 and a 1-year high of $112.92. The company has a quick ratio of 0.25, a current ratio of 1.17 and a debt-to-equity ratio of 1.04.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 24th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.29. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.86 billion. Lithia Motors had a net margin of 2.25% and a return on equity of 20.68%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.07 earnings per share. On average, research analysts anticipate that Lithia Motors will post 10.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.30 per share. This is an increase from Lithia Motors’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. Lithia Motors’s payout ratio is presently 11.62%.

In other Lithia Motors news, Director Susan O. Cain sold 1,462 shares of Lithia Motors stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $87.15, for a total value of $127,413.30. Following the completion of the sale, the director now owns 10,849 shares in the company, valued at approximately $945,490.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bryan B. Deboer sold 3,835 shares of Lithia Motors stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $345,150.00. Following the completion of the sale, the chief executive officer now owns 153,285 shares of the company’s stock, valued at approximately $13,795,650. The disclosure for this sale can be found here. Insiders own 5.21% of the company’s stock.

A number of institutional investors have recently modified their holdings of LAD. Ellis Investment Partners LLC acquired a new stake in Lithia Motors in the 1st quarter worth about $30,000. Versant Capital Management Inc raised its stake in Lithia Motors by 100.5% in the 1st quarter. Versant Capital Management Inc now owns 393 shares of the company’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Bank of Montreal Can raised its stake in Lithia Motors by 65.8% in the 4th quarter. Bank of Montreal Can now owns 1,096 shares of the company’s stock worth $84,000 after purchasing an additional 435 shares in the last quarter. Quattro Financial Advisors LLC acquired a new stake in Lithia Motors in the 4th quarter worth about $85,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lithia Motors by 14.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the company’s stock worth $139,000 after purchasing an additional 230 shares in the last quarter.

About Lithia Motors

Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.

Recommended Story: How dollar cost averaging works

Analyst Recommendations for Lithia Motors (NYSE:LAD)

Receive News & Ratings for Lithia Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors and related companies with MarketBeat.com's FREE daily email newsletter.