Lithia Motors Inc. (LAD) Shares Up 2.2%
Lithia Motors Inc. (NYSE:LAD)’s share price shot up 2.2% during trading on Thursday . The stock traded as high as $73.96 and last traded at $73.56, with a volume of 128,388 shares trading hands. The stock had previously closed at $72.01.
Several brokerages have commented on LAD. Zacks Investment Research lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a research note on Monday, April 25th. Jefferies Group assumed coverage on Lithia Motors in a report on Monday, April 11th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, KeyCorp reissued an “overweight” rating and issued a $122.00 price objective on shares of Lithia Motors in a report on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $118.43.
The company has a market capitalization of $1.88 billion and a PE ratio of 10.59. The firm has a 50 day moving average of $76.19 and a 200 day moving average of $84.19.
Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Thursday, April 21st. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $1.39 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Lithia Motors Inc. will post $7.58 EPS for the current year.
A number of institutional investors recently added to or reduced their stakes in LAD. Dimensional Fund Advisors LP raised its position in Lithia Motors by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 720,318 shares of the company’s stock valued at $76,837,000 after buying an additional 34,754 shares during the period. BNP Paribas Arbitrage SA raised its position in Lithia Motors by 27.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 31,771 shares of the company’s stock valued at $3,389,000 after buying an additional 6,789 shares during the period. Marshall Wace LLP bought a new position in Lithia Motors during the fourth quarter valued at approximately $2,087,000. Monarch Partners Asset Management LLC raised its position in Lithia Motors by 20.5% in the fourth quarter. Monarch Partners Asset Management LLC now owns 115,580 shares of the company’s stock valued at $12,329,000 after buying an additional 19,641 shares during the period. Finally, Burney Co. raised its position in Lithia Motors by 7.4% in the fourth quarter. Burney Co. now owns 51,206 shares of the company’s stock valued at $5,516,000 after buying an additional 3,550 shares during the period.
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. The Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.