Lithia Motors, Inc. $LAD Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC lessened its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 2.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 181,175 shares of the company’s stock after selling 4,011 shares during the quarter. Eventide Asset Management LLC’s holdings in Lithia Motors were worth $57,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. CoreCap Advisors LLC acquired a new stake in Lithia Motors during the 3rd quarter worth $26,000. Eastern Bank acquired a new position in Lithia Motors in the third quarter valued at $31,000. Root Financial Partners LLC purchased a new position in shares of Lithia Motors during the third quarter worth about $31,000. Parkside Financial Bank & Trust grew its holdings in shares of Lithia Motors by 75.0% during the third quarter. Parkside Financial Bank & Trust now owns 105 shares of the company’s stock worth $33,000 after purchasing an additional 45 shares during the last quarter. Finally, Winnow Wealth LLC acquired a new stake in shares of Lithia Motors during the third quarter worth about $46,000.

Lithia Motors Price Performance

Shares of LAD opened at $254.90 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17. Lithia Motors, Inc. has a fifty-two week low of $251.00 and a fifty-two week high of $360.55. The firm has a 50-day simple moving average of $308.23 and a 200-day simple moving average of $317.50. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.09 by ($1.35). The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $7.79 EPS. On average, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.9%. Lithia Motors’s payout ratio is presently 6.85%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LAD. Wall Street Zen downgraded Lithia Motors from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Barclays cut their price target on Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 price objective for the company. in a research note on Friday, February 20th. Bank of America began coverage on shares of Lithia Motors in a research report on Wednesday, March 4th. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $382.33.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.