1,734 Shares in Lithia Motors, Inc. $LAD Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. purchased a new position in shares of Lithia Motors, Inc. (NYSE:LAD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,734 shares of the company’s stock, valued at approximately $548,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Lithia Motors during the 2nd quarter worth approximately $148,540,000. Hennessy Advisors Inc. acquired a new stake in Lithia Motors in the 3rd quarter valued at $39,342,000. River Road Asset Management LLC increased its holdings in Lithia Motors by 26.4% in the 2nd quarter. River Road Asset Management LLC now owns 412,516 shares of the company’s stock worth $139,356,000 after acquiring an additional 86,121 shares in the last quarter. Bank of America Corp DE raised its position in Lithia Motors by 57.5% during the second quarter. Bank of America Corp DE now owns 197,417 shares of the company’s stock worth $66,691,000 after acquiring an additional 72,061 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Lithia Motors by 42.0% during the second quarter. Ameriprise Financial Inc. now owns 187,997 shares of the company’s stock valued at $63,514,000 after purchasing an additional 55,631 shares in the last quarter.

Lithia Motors Stock Down 1.2%

Shares of NYSE LAD opened at $293.71 on Monday. The stock has a market cap of $7.12 billion, a PE ratio of 9.14 and a beta of 1.20. The company has a current ratio of 1.17, a quick ratio of 0.26 and a debt-to-equity ratio of 1.46. Lithia Motors, Inc. has a 12-month low of $262.10 and a 12-month high of $363.78. The company has a 50-day moving average of $329.25 and a 200 day moving average of $321.54.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing analysts’ consensus estimates of $8.09 by ($1.35). The business had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business earned $7.79 earnings per share. As a group, sell-side analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, March 6th. Lithia Motors’s dividend payout ratio is presently 6.85%.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 75 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $360.00, for a total value of $27,000.00. Following the completion of the sale, the director directly owned 1,810 shares of the company’s stock, valued at $651,600. This trade represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LAD has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 target price on the stock. in a research report on Friday. Citigroup raised their price target on shares of Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Wells Fargo & Company cut their price objective on Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Finally, Evercore raised their target price on Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $386.00.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.