Lithia Motors (NYSE:LAD) Sets New 1-Year High After Analyst Upgrade

Lithia Motors, Inc. (NYSE:LAD) hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $375.00 to $405.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as high as $348.09 and last traded at $344.22, with a volume of 28126 shares changing hands. The stock had previously closed at $344.08.

A number of other research analysts have also recently issued reports on LAD. Bank of America boosted their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Monday. The Goldman Sachs Group boosted their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Stephens upped their price target on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $353.80.

Insider Transactions at Lithia Motors

In other news, COO Chris Holzshu sold 8,520 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the sale, the chief operating officer now owns 32,054 shares of the company’s stock, valued at $10,744,821.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lithia Motors news, COO Chris Holzshu sold 8,520 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the sale, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the sale, the director now directly owns 35,352 shares in the company, valued at $9,754,677.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,235 shares of company stock valued at $9,301,973 over the last 90 days. 1.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers raised its position in shares of Lithia Motors by 1.3% in the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock valued at $975,000 after purchasing an additional 48 shares during the period. Signaturefd LLC raised its position in shares of Lithia Motors by 23.9% in the third quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $79,000 after purchasing an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock valued at $116,000 after purchasing an additional 52 shares during the period. Versor Investments LP raised its position in shares of Lithia Motors by 7.0% in the third quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after purchasing an additional 56 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Lithia Motors by 83.6% in the second quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after purchasing an additional 61 shares during the period.

Lithia Motors Price Performance

The company has a market capitalization of $9.34 billion, a P/E ratio of 11.72 and a beta of 1.63. The company’s 50-day moving average price is $305.81 and its two-hundred day moving average price is $278.46. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.61. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The company had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same period in the prior year, the firm earned $9.25 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that Lithia Motors, Inc. will post 28.88 EPS for the current year.

Lithia Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.53 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.60%. Lithia Motors’s dividend payout ratio (DPR) is presently 7.24%.

About Lithia Motors

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company’s Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.