Lithia Motors Inc. (LAD) Receives New Coverage from Analysts at KeyCorp
A number of other brokerages also recently weighed in on LAD. Stephens set a $114.00 target price on shares of Lithia Motors and gave the stock a buy rating in a research note on Friday, October 21st. Zacks Investment Research raised shares of Lithia Motors from a hold rating to a buy rating and set a $105.00 target price for the company in a research note on Tuesday, October 4th. Finally, Wolfe Research assumed coverage on shares of Lithia Motors in a research note on Wednesday, August 31st. They issued an outperform rating for the company. Six investment analysts have rated the stock with a buy rating, Lithia Motors has a consensus rating of Buy and a consensus target price of $111.20.
Shares of Lithia Motors (NYSE:LAD) traded down 0.95% during mid-day trading on Wednesday, reaching $85.41. 69,527 shares of the company were exchanged. The firm has a 50-day moving average price of $88.70 and a 200 day moving average price of $83.18. The stock has a market capitalization of $2.15 billion, a P/E ratio of 11.39 and a beta of 1.64. Lithia Motors has a 12 month low of $68.70 and a 12 month high of $126.56.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Thursday, October 20th. The company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by $0.10. Lithia Motors had a net margin of 2.31% and a return on equity of 22.67%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business earned $2.03 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Lithia Motors will post $7.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, November 8th. Lithia Motors’s dividend payout ratio is 13.33%.
In other news, Director Sidney B. Deboer sold 17,600 shares of Lithia Motors stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $95.00, for a total transaction of $1,672,000.00. Following the completion of the sale, the director now owns 138,077 shares in the company, valued at approximately $13,117,315. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 11.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Lithia Motors by 124.5% in the first quarter. BlackRock Inc. now owns 1,542 shares of the company’s stock worth $135,000 after buying an additional 855 shares in the last quarter. State Street Corp boosted its position in Lithia Motors by 4.0% in the first quarter. State Street Corp now owns 553,877 shares of the company’s stock valued at $48,369,000 after buying an additional 21,468 shares during the period. Geode Capital Management LLC boosted its position in Lithia Motors by 4.9% in the first quarter. Geode Capital Management LLC now owns 149,455 shares of the company’s stock valued at $13,051,000 after buying an additional 6,986 shares during the period. Envestnet Asset Management Inc. boosted its position in Lithia Motors by 31.3% in the first quarter. Envestnet Asset Management Inc. now owns 15,724 shares of the company’s stock valued at $1,373,000 after buying an additional 3,746 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Lithia Motors during the first quarter valued at $485,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
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