Insider Selling: Lithia Motors, Inc. (LAD) Director Sells 1,302 Shares of Stock
Lithia Motors, Inc. (NYSE:LAD) Director Susan O. Cain sold 1,302 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $115.79, for a total transaction of $150,758.58. Following the completion of the sale, the director now directly owns 10,940 shares of the company’s stock, valued at approximately $1,266,742.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Lithia Motors, Inc. (LAD) traded up $0.94 on Wednesday, reaching $116.28. 166,200 shares of the company traded hands, compared to its average volume of 267,446. Lithia Motors, Inc. has a fifty-two week low of $80.88 and a fifty-two week high of $123.50. The firm has a market capitalization of $2,875.91, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.98 and a beta of 1.72. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26.
Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.19). Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the company posted $2.06 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. equities research analysts predict that Lithia Motors, Inc. will post 8.33 EPS for the current year.
Several brokerages have recently issued reports on LAD. Morgan Stanley reissued an “overweight” rating and set a $116.00 price objective (up previously from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. Berenberg Bank began coverage on shares of Lithia Motors in a research report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price objective for the company. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective for the company in a research report on Wednesday, August 23rd. KeyCorp reissued a “buy” rating and set a $130.00 price objective on shares of Lithia Motors in a research report on Monday, November 13th. Finally, Jefferies Group reissued a “buy” rating and set a $125.00 price objective on shares of Lithia Motors in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Lithia Motors has a consensus rating of “Hold” and an average price target of $116.29.
Institutional investors and hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in Lithia Motors by 7.3% during the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after purchasing an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after acquiring an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake 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 valued at $137,000 after acquiring an additional 146 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Lithia Motors in the third quarter valued at $144,000. Finally, Riverhead Capital Management LLC lifted its stake in Lithia Motors by 93.8% in the second quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
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About Lithia Motors
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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