First Citizens Bank & Trust Co. Purchases Shares of 668 Lithia Motors, Inc. (NYSE:LAD)

First Citizens Bank & Trust Co. purchased a new position in shares of Lithia Motors, Inc. (NYSE:LAD) during the third quarter, Holdings Channel.com reports. The fund purchased 668 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. grew its position in Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock worth $34,000 after purchasing an additional 61 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Lithia Motors in the 3rd quarter valued at $35,000. McClarren Financial Advisors Inc. raised its stake in Lithia Motors by 12,500.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock worth $64,000 after acquiring an additional 250 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lithia Motors during the 2nd quarter worth about $80,000. Finally, Headlands Technologies LLC purchased a new stake in Lithia Motors during the 2nd quarter valued at about $116,000.

Lithia Motors Trading Down 2.4 %

LAD stock opened at $306.44 on Tuesday. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. The firm has a market cap of $8.40 billion, a P/E ratio of 9.05, a PEG ratio of 0.30 and a beta of 1.64. The company’s 50-day simple moving average is $296.69 and its 200-day simple moving average is $273.78.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. Lithia Motors’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.91 earnings per share. As a group, equities analysts forecast that Lithia Motors, Inc. will post 28.74 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, August 9th. Lithia Motors’s payout ratio is presently 6.26%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LAD. Stephens assumed coverage on Lithia Motors in a research note on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price objective for the company. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Bank of America boosted their target price on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company cut their price target on Lithia Motors from $302.00 to $299.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $337.70.

Insiders Place Their Bets

In other news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now owns 46,129 shares in the company, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Sidney B. Deboer sold 10,777 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the transaction, the director now directly owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. This represents a 0.00 % 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. Also, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the sale, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,021 shares of company stock worth $6,534,617. Company insiders own 1.79% of the company’s stock.

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.