Lithia Motors (NYSE:LAD) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Lithia Motors (NYSE:LAD) in a report released on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $340.00 price objective on the stock.

Several other equities analysts have also recently commented on the company. Evercore ISI upped their price target on Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Citigroup raised Lithia Motors from a “neutral” rating to a “buy” rating and cut their price target for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. Guggenheim cut their price target on Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and issued a $400.00 price target on shares of Lithia Motors in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price target on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.40.

Lithia Motors Price Performance

NYSE LAD opened at $319.78 on Tuesday. Lithia Motors has a twelve month low of $243.04 and a twelve month high of $405.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. The stock has a market capitalization of $8.32 billion, a PE ratio of 10.77, a P/E/G ratio of 4.65 and a beta of 1.47. The stock has a 50-day simple moving average of $299.99 and a 200 day simple moving average of $335.23.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the firm posted $6.11 EPS. Lithia Motors’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that Lithia Motors will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.55 dividend. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, May 9th. Lithia Motors’s dividend payout ratio is currently 6.93%.

Insider Activity

In other news, Director Shauna Mcintyre sold 337 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the sale, the director now directly owns 1,632 shares in the company, valued at approximately $482,974.08. This represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Congdon Stacy Loretz sold 270 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the sale, the director now owns 1,213 shares in the company, valued at approximately $362,444.40. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 855 shares of company stock worth $252,536. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Large investors have recently modified their holdings of the stock. Atlas Capital Advisors Inc. bought a new stake in Lithia Motors during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. bought a new stake in Lithia Motors during the 4th quarter worth approximately $35,000. V Square Quantitative Management LLC grew its position in Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock worth $52,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. grew its position in Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock worth $54,000 after acquiring an additional 142 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Lithia Motors during the 1st quarter worth approximately $59,000.

Lithia Motors Company Profile

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.