Lithia Motors Inc. (LAD) Shares Gap Up to $81.98
Lithia Motors Inc. (NYSE:LAD) gapped up prior to trading on Thursday . The stock had previously closed at $81.90, but opened at $81.98. Lithia Motors shares last traded at $83.51, with a volume of 137,765 shares changing hands.
Several brokerages recently commented on LAD. Zacks Investment Research cut Lithia Motors from a “buy” rating to a “hold” rating in a research note on Monday, April 25th. KeyCorp reissued an “overweight” rating and issued a $122.00 price target on shares of Lithia Motors in a research note on Monday, April 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $114.00.
The company has a market capitalization of $2.10 billion and a PE ratio of 11.93. The stock has a 50 day moving average price of $79.59 and a 200 day moving average price of $82.43.
Lithia Motors (NYSE:LAD) last issued its earnings results on Thursday, July 28th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the business posted $1.86 EPS. Lithia Motors’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that Lithia Motors Inc. will post $7.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, August 10th.
Several large investors have added to or reduced their stakes in the company. RS Investment Management Co. LLC raised its stake in Lithia Motors by 26.0% in the fourth quarter. RS Investment Management Co. LLC now owns 567,724 shares of the company’s stock worth $60,559,000 after buying an additional 117,160 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lithia Motors by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 720,318 shares of the company’s stock worth $76,837,000 after buying an additional 34,754 shares in the last quarter. Calvert Investment Management Inc. acquired a new stake in Lithia Motors during the fourth quarter worth approximately $2,505,000. Marshall Wace LLP acquired a new stake in Lithia Motors during the fourth quarter worth approximately $2,087,000. Finally, State of Tennessee Treasury Department acquired a new stake in Lithia Motors during the fourth quarter worth approximately $1,979,000.
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. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
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