Lithia Motors (NYSE:LAD) Sets New 1-Year High After Analyst Upgrade

Lithia Motors, Inc. (NYSE:LAD) shares reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $375.00 to $405.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as high as $348.09 and last traded at $344.22, with a volume of 28126 shares changing hands. The stock had previously closed at $344.08.

A number of other research analysts have also issued reports on the stock. StockNews.com lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Monday. The Goldman Sachs Group raised their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Citigroup raised their price objective on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $353.80.

Insider Transactions at Lithia Motors

In other news, COO Chris Holzshu sold 8,520 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the completion of the sale, the chief operating officer now owns 32,054 shares of the company’s stock, valued at $10,744,821.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the sale, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Chris Holzshu sold 8,520 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the sale, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,235 shares of company stock valued at $9,301,973 in the last quarter. 1.79% of the stock is currently owned by company insiders.

Institutional Trading of Lithia Motors

Several hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC grew its position in Lithia Motors by 2.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,440 shares of the company’s stock valued at $1,093,000 after purchasing an additional 78 shares during the period. Versor Investments LP grew its position in Lithia Motors by 7.0% in the 3rd quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after purchasing an additional 56 shares during the period. Venturi Wealth Management LLC grew its position in Lithia Motors by 4,888.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 848 shares of the company’s stock valued at $269,000 after purchasing an additional 831 shares during the period. Crossmark Global Holdings Inc. grew its position in Lithia Motors by 51.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,472 shares of the company’s stock valued at $785,000 after purchasing an additional 839 shares during the period. Finally, Bridges Investment Management Inc. grew its position in Lithia Motors by 43.5% in the 3rd quarter. Bridges Investment Management Inc. now owns 230,761 shares of the company’s stock valued at $73,299,000 after purchasing an additional 69,901 shares during the period.

Lithia Motors Trading Up 1.9 %

The firm’s 50-day moving average is $305.81 and its 200-day moving average is $278.46. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 11.72 and a beta of 1.63.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.60 by $0.61. The business had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. Lithia Motors’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $9.25 EPS. As a group, sell-side analysts anticipate that Lithia Motors, Inc. will post 28.88 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, November 8th. Lithia Motors’s dividend payout ratio is 7.24%.

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.