Praxis Investment Management Inc. Buys Shares of 650 Lithia Motors, Inc. $LAD

Praxis Investment Management Inc. purchased a new stake in Lithia Motors, Inc. (NYSE:LAD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 650 shares of the company’s stock, valued at approximately $220,000.

Several other large investors have also modified their holdings of LAD. Cambridge Investment Research Advisors Inc. lifted its stake in Lithia Motors by 1.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company’s stock valued at $711,000 after buying an additional 35 shares in the last quarter. Red Spruce Capital LLC raised its holdings in shares of Lithia Motors by 0.6% in the second quarter. Red Spruce Capital LLC now owns 7,880 shares of the company’s stock worth $2,662,000 after acquiring an additional 44 shares during the last quarter. CWM LLC lifted its position in shares of 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 in the last quarter. UMB Bank n.a. lifted its position in shares of Lithia Motors by 29.1% in the second quarter. UMB Bank n.a. now owns 262 shares of the company’s stock valued at $89,000 after acquiring an additional 59 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Lithia Motors by 4.6% during the second quarter. Inspire Investing LLC now owns 1,434 shares of the company’s stock valued at $485,000 after acquiring an additional 63 shares during the last quarter.

Insider Activity

In related news, Director Shauna Mcintyre sold 256 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the completion of the sale, the director owned 1,376 shares of the company’s stock, valued at approximately $403,236.80. This represents a 15.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Lithia Motors Stock Up 1.7%

Shares of LAD opened at $310.99 on Monday. The firm has a market cap of $7.97 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.28. The company’s fifty day moving average is $321.85 and its two-hundred day moving average is $315.78. Lithia Motors, Inc. has a fifty-two week low of $262.10 and a fifty-two week high of $405.67. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24.

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

Lithia Motors announced that its board has initiated a stock repurchase program on Tuesday, August 26th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. Lithia Motors’s payout ratio is currently 6.52%.

Analyst Ratings Changes

A number of research firms have issued reports on LAD. Weiss Ratings lowered shares of Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Lithia Motors from $317.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Guggenheim decreased their target price on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. JPMorgan Chase & Co. boosted their price target on Lithia Motors from $320.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Jefferies Financial Group began coverage on Lithia Motors in a research note on Thursday, September 4th. They set a “buy” rating and a $400.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $381.00.

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.