Lithia Motors (NYSE: LAD) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a $62.30 price target on the stock. Zacks‘ target price would suggest a potential upside of 5.20% from the stock’s previous close.
Lithia Motors (NYSE: LAD) traded down 1.37% on Thursday, hitting $58.41. Lithia Motors has a 52-week low of $24.39 and a 52-week high of $60.34. The stock’s 50-day moving average is currently $54.28. The company has a market cap of $1.499 billion and a price-to-earnings ratio of 17.71.
Lithia Motors (NYSE: LAD) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.13. The company had revenue of $903.10 million for the quarter, compared to the consensus estimate of $850.69 million. During the same quarter last year, the company posted $0.60 earnings per share. Lithia Motors’s revenue was up 22.3% compared to the same quarter last year. Lithia Motors has set its Q2 guidance at $0.86-0.88 EPS and its FY13 guidance at $3.48-3.55 EPS. On average, analysts predict that Lithia Motors will post $3.62 earnings per share for the current fiscal year.
A number of other firms have also recently commented on LAD. Analysts at KeyCorp raised their price target on shares of Lithia Motors to $62.00 in a research note to investors on Monday, June 17th. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Lithia Motors from $54.00 to $60.00 in a research note to investors on Monday, June 3rd. Finally, analysts at Merrill Lynch raised their price target on shares of Lithia Motors from $54.00 to $58.00 in a research note to investors on Wednesday, May 29th.
Four analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $53.76.
Lithia Motors, Inc, is an operator of automotive franchises and a retailer of new and used vehicles and services.
To view Zacks’ full report, visit www.zacks.com