Lithia Motors, Inc. (LAD) Director Sells $744,450.00 in Stock
Lithia Motors, Inc. (NYSE:LAD) Director Sidney B. Deboer sold 7,090 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $105.00, for a total value of $744,450.00. Following the completion of the sale, the director now owns 21,421 shares in the company, valued at $2,249,205. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Lithia Motors, Inc. (LAD) opened at 103.09 on Friday. The firm has a 50-day moving average price of $100.81 and a 200-day moving average price of $94.23. The firm has a market capitalization of $2.58 billion, a PE ratio of 12.43 and a beta of 1.73. Lithia Motors, Inc. has a 1-year low of $75.85 and a 1-year high of $109.42.
Lithia Motors (NYSE:LAD) last posted its earnings results on Friday, July 28th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the business posted $1.96 EPS. Lithia Motors’s revenue was up 15.6% compared to the same quarter last year. On average, analysts forecast that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.05%. Lithia Motors’s payout ratio is presently 13.01%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its position in Lithia Motors by 7.3% in the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after buying an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock worth $113,000 after buying an additional 105 shares during the last quarter. Tyers Asset Management LLC raised its position in Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after buying an additional 224 shares during the last quarter. Flinton Capital Management LLC raised its position in Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after buying an additional 272 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.
LAD has been the topic of several analyst reports. Zacks Investment Research cut Lithia Motors from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Morgan Stanley reduced their price objective on Lithia Motors from $115.00 to $106.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. Seaport Global Securities initiated coverage on Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating on the stock. Bank of America Corporation cut Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective on the stock. in a research note on Friday, June 16th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Lithia Motors in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $112.00.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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