LPL Financial LLC Buys 3,851 Shares of Lithia Motors, Inc. $LAD

LPL Financial LLC boosted its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 95.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,900 shares of the company’s stock after purchasing an additional 3,851 shares during the quarter. LPL Financial LLC’s holdings in Lithia Motors were worth $2,319,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of Lithia Motors during the first quarter worth $59,000. UMB Bank n.a. lifted its holdings in Lithia Motors by 63.7% during the first quarter. UMB Bank n.a. now owns 203 shares of the company’s stock worth $60,000 after acquiring an additional 79 shares in the last quarter. CWM LLC grew its stake in Lithia Motors by 30.1% in the first quarter. CWM LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 49 shares during the period. GAMMA Investing LLC increased its holdings in shares of Lithia Motors by 50.9% in the first quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $74,000 after acquiring an additional 85 shares in the last quarter. Finally, Forum Financial Management LP bought a new stake in shares of Lithia Motors in the fourth quarter worth about $202,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Lithia Motors from $335.00 to $315.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. The Goldman Sachs Group began coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 price target on the stock. Citigroup increased their price objective on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company dropped their price objective on shares of Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 30th. Finally, Bank of America upped their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of “Moderate Buy” and an average target price of $379.00.

Lithia Motors Stock Up 1.3%

Shares of LAD stock opened at $304.68 on Tuesday. The firm’s fifty day moving average price is $321.52 and its two-hundred day moving average price is $318.03. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Lithia Motors, Inc. has a 1 year low of $255.32 and a 1 year high of $405.67. The firm has a market capitalization of $7.81 billion, a P/E ratio of 9.03, a PEG ratio of 0.47 and a beta of 1.30.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, beating the consensus estimate of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. The company had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.56 billion. On average, equities analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, August 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Lithia Motors’s dividend payout ratio is currently 6.52%.

Insider Activity

In related news, Director Shauna Mcintyre sold 256 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the completion of the transaction, the director directly owned 1,376 shares of the company’s stock, valued at approximately $403,236.80. This trade represents a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

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.