Lithia Motors (NYSE:LAD) Shares Down 3.8% After Earnings Miss

Lithia Motors, Inc. (NYSE:LAD)’s stock price was down 3.8% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $283.49 and last traded at $284.26. Approximately 272,239 shares traded hands during trading, a decline of 13% from the average daily volume of 312,660 shares. The stock had previously closed at $295.45.

The company reported $7.66 EPS for the quarter, missing analysts’ consensus estimates of $7.77 by ($0.11). Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, March 7th. Lithia Motors’s dividend payout ratio is currently 7.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Benchmark reissued a “buy” rating and issued a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Wells Fargo & Company dropped their price objective on Lithia Motors from $397.00 to $308.00 and set an “equal weight” rating for the company in a report on Monday. Guggenheim cut their price target on shares of Lithia Motors from $417.00 to $356.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.18.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.84, for a total value of $72,128.32. Following the sale, the director now owns 1,297 shares in the company, valued at $377,219.48. This represents a 16.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Congdon Stacy Loretz sold 270 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total transaction of $80,676.00. Following the sale, the director now owns 1,213 shares of the company’s stock, valued at $362,444.40. This trade represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,246 shares of company stock valued at $433,724 over the last 90 days. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithia Motors

Institutional investors have recently made changes to their positions in the stock. Whalen Wealth Management Inc. raised its holdings in Lithia Motors by 71.0% in the 1st quarter. Whalen Wealth Management Inc. now owns 1,185 shares of the company’s stock valued at $348,000 after acquiring an additional 492 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lithia Motors by 1.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company’s stock worth $711,000 after acquiring an additional 35 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Lithia Motors by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 3,120 shares of the company’s stock worth $915,000 after acquiring an additional 80 shares in the last quarter. Chicago Capital LLC increased its stake in Lithia Motors by 0.5% in the first quarter. Chicago Capital LLC now owns 214,870 shares of the company’s stock valued at $63,073,000 after acquiring an additional 1,172 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Lithia Motors by 6.4% in the first quarter. QRG Capital Management Inc. now owns 2,042 shares of the company’s stock valued at $599,000 after acquiring an additional 123 shares during the last quarter.

Lithia Motors Trading Down 5.9 %

The firm’s 50-day simple moving average is $308.49 and its 200 day simple moving average is $340.68. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 4.65 and a beta of 1.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28.

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.