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

Lithia Motors, Inc. (NYSE:LAD)’s stock price hit a new 52-week high during trading 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 trading hands. The stock had previously closed at $344.08.

Several other research firms also recently weighed in on LAD. Wells Fargo & Company upped their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Citigroup upped their price target on 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 target price for the stock from $225.00 to $310.00 in a report on Wednesday, September 25th. The Goldman Sachs Group increased their price objective on Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Guggenheim boosted their target price on Lithia Motors from $350.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. 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 has an average rating of “Hold” and an average price target of $353.80.

Insider Transactions at Lithia Motors

In related news, COO Chris Holzshu sold 8,520 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the sale, the chief operating officer now owns 32,054 shares in the company, valued at $10,744,821.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Chris Holzshu sold 8,520 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the transaction, the chief operating officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the transaction, the director now owns 35,352 shares in the company, valued at approximately $9,754,677.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,235 shares of company stock worth $9,301,973. 1.79% of the stock is currently owned by company insiders.

Institutional Trading of Lithia Motors

Institutional investors have recently added to or reduced their stakes in the company. Versor Investments LP raised its stake in Lithia Motors by 7.0% in the 3rd quarter. Versor Investments LP now owns 856 shares of the company’s stock worth $272,000 after purchasing an additional 56 shares in the last quarter. Venturi Wealth Management LLC raised its holdings 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 buying an additional 831 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Lithia Motors by 51.4% in the third quarter. Crossmark Global Holdings Inc. now owns 2,472 shares of the company’s stock worth $785,000 after purchasing an additional 839 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Lithia Motors by 43.5% in the third quarter. Bridges Investment Management Inc. now owns 230,761 shares of the company’s stock valued at $73,299,000 after buying an additional 69,901 shares during the period. Finally, Financial Strategies Group Inc. acquired a new position in shares of Lithia Motors in the 3rd quarter valued at about $503,000.

Lithia Motors Stock Up 0.1 %

The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.18. The stock’s 50 day simple moving average is $305.81 and its 200 day simple moving average is $278.46. The firm has a market cap of $9.18 billion, a P/E ratio of 11.72 and a beta of 1.63.

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

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, November 8th. Lithia Motors’s 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.