According to a note that was sent out to investors on Friday, Wells Fargo & Company downgraded Lithia Motors (NYSE: LAD) from an “overweight” rating to an “equal weight” rating. This information was obtained from a report that The Fly published. The previous price objective of $212.00 has been raised to a new target price of $233.00 for the stock. This represents an increase of $30.00 from the previous price objective. The calculation used to determine the target price for Wells Fargo & Company shares takes into account a decrease of 0.99% from the price at which the stock is currently trading.
Several other industry professionals have also contributed their expertise in the form of research studies that were written about the company. On Wednesday, October 12, an article regarding Lithia Motors was initially published by StockNews.com on their website. This article was the first to break the news regarding Lithia Motors. They recommended that shareholders “hold” their shares of the company. In a research note distributed on October 26, Morgan Stanley lowered its “underweight” rating that it had previously assigned to Lithia Motors. In addition, Morgan Stanley lowered their price objective for the company, taking it from $220.00 down to $200.00. In a report on the company’s performance published on Friday, September 30, The Street downgraded Lithia Motors from a “b” rating to a “c+” rating. The downgrade came as a result of the company’s poor financial performance. Benchmark cut their price objective for Lithia Motors from $400 to $300 in a research report published on Friday, October 21. They also classified the company as a “buy.” Finally, JPMorgan Chase & Co. lowered their price objective on Lithia Motors from $325.00 to $285.00 and upgraded the stock to “overweight” in a research note published on Thursday, October 6. Four equity research experts have given the stock a buy recommendation, four equity research experts have given the stock a hold recommendation, and one equity research analyst has given the stock a sell suggestion. No additional ratings have been provided for the stock by any other analysts. The information that can be found on Bloomberg.com indicates that the general recommendation for Lithia Motors stock is to “hold” the stock and that the average price objective for the company is $301.78.
On Friday, the NYSE LAD began trading at an opening price of $235.34 per share. The stock currently trades at a price that results in a price-to-earnings ratio of 5.27, a price-to-earnings-to-growth ratio of 1.80, and a beta value of 1.39. The market value of the company’s shares is $6.43 billion. The moving averages for the company over the past 50 days come in at $218.25, and over the last 200 days, they come in at $237.71. The lowest price that the stock of Lithia Motors has been in the past year is $180.00, while the highest price that the stock has been in the past year is $349.61. 1.66 is the value of the current ratio, 0.49 is the value of the quick ratio, and 1.05 is the value of the debt-to-equity ratio.
On October 19, the most recent earnings report for Lithia Motors was made public. Lithia Motors is a company that trades on the NYSE under the symbol LAD. Earnings per share for the company came in at $11.08, which was $0.83 lower than the average estimate for the quarter of $11.91 that analysts had. The company’s revenues for the quarter came in at $7.30 billion, which is lower than the average prediction of $7.34 billion for the quarter’s sales, which was the expected amount. The return on equity for Lithia Motors was calculated to be 28.20 percent, and the net margin for the company was 4.70 percent. Compared to the same quarter in the previous fiscal year, the quarterly revenues of the company showed an increase of 18.2%. The company reported earnings of $11.21 per share in the same period the year before. The consensus forecast places the annual earnings per share for Lithia Motors at $45.58. This is based on the company’s historical performance.
Recent transactions by institutional investors have resulted in changes to the proportion of the company’s stock held by these investors. One hundred percent of Adirondack Trust Company’s previous ownership stake in Lithia Motors was converted into one hundred percent of that stake during the second quarter. Adirondack Trust Company now has 100 shares, valued at $27,000, after purchasing an additional 50 shares during the most recent quarter. The company purchased these shares. Ronald Blue Trust Inc.’s shareholding in Lithia Motors was increased due to a transaction completed during the second quarter and is estimated to have a total value of approximately $46,000. Quantbot Technologies LP increased the total percentage of ownership it holds in Lithia Motors by making an additional investment of approximately $46,000 during the second quarter. During the second quarter, the investment portfolio managed by First Horizon Advisors, Inc. saw a 2,112 percent increase in the percentage of its holdings allocated to Lithia Motors. First Horizon Advisors Inc. now has 177 shares worth $48,000 after purchasing an additional 169 shares during the most recent quarter. In the second quarter, Charter Oak Capital Management LLC shelled out approximately $53,000 to acquire a new shareholding in Lithia Motors. This was the last and most important item on the agenda. This was the most recent piece of property that the company had purchased. Institutional investors and hedge funds are the primary owners of the company’s shares, accounting for 98.21% of the total.
The United States of America is where Lithia Motors, Inc., locates its primary office and corporate headquarters. The company is structured in such a way that it consists of three separate divisions: domestic, import, and luxury. It offers new and used automobiles under the brand Driveway and GreenCars, auto financing, warranties, insurance, vehicle and theft protection, and repair and maintenance services for motor vehicles. These products and services are marketed under “Driveway” and “GreenCars.” In addition to that, it also deals in the sale of body parts and vehicle components.