Lithia Motors (NYSE:LAD) had its price target raised by Morgan Stanley from $116.00 to $126.00 in a research note released on Wednesday morning. The firm currently has an overweight rating on the stock.
A number of other equities analysts have also recently issued reports on the stock. Bank of America raised shares of Lithia Motors from an underperform rating to a neutral rating and set a $128.00 price objective on the stock in a research report on Monday, January 8th. Zacks Investment Research cut shares of Lithia Motors from a buy rating to a hold rating in a research report on Monday. Buckingham Research dropped their price target on shares of Lithia Motors from $137.00 to $131.00 and set a buy rating on the stock in a research report on Thursday, February 15th. Finally, Stephens reaffirmed a buy rating on shares of Lithia Motors in a research report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $129.29.
Shares of Lithia Motors (LAD) traded up $0.10 during trading hours on Wednesday, hitting $107.06. 9,032 shares of the stock traded hands, compared to its average volume of 254,554. The firm has a market capitalization of $2,662.13, a P/E ratio of 12.68, a PEG ratio of 0.50 and a beta of 1.78. The company has a quick ratio of 0.28, a current ratio of 1.21 and a debt-to-equity ratio of 0.95. Lithia Motors has a 52 week low of $80.88 and a 52 week high of $127.99.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.06. Lithia Motors had a return on equity of 20.81% and a net margin of 2.43%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business posted $1.86 earnings per share. Lithia Motors’s quarterly revenue was up 18.0% on a year-over-year basis. sell-side analysts expect that Lithia Motors will post 10.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.01%. Lithia Motors’s dividend payout ratio is 11.07%.
In related news, Director Kenneth E. Roberts sold 5,000 shares of Lithia Motors stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $126.00, for a total value of $630,000.00. Following the completion of the transaction, the director now directly owns 105,064 shares in the company, valued at approximately $13,238,064. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.85% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its holdings in Lithia Motors by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock valued at $170,000 after purchasing an additional 204 shares during the period. Haverford Financial Services Inc. boosted its holdings in Lithia Motors by 13.0% in the 4th quarter. Haverford Financial Services Inc. now owns 3,689 shares of the company’s stock valued at $420,000 after purchasing an additional 425 shares during the period. Flinton Capital Management LLC boosted its holdings in Lithia Motors by 16.7% in the 4th quarter. Flinton Capital Management LLC now owns 3,332 shares of the company’s stock valued at $379,000 after purchasing an additional 476 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Lithia Motors by 2.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,188 shares of the company’s stock valued at $2,407,000 after purchasing an additional 560 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Lithia Motors by 6.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the company’s stock valued at $1,170,000 after purchasing an additional 600 shares during the period.
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About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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