Lithia Motors, Inc. (NYSE:LAD) Rating Reiterated by Jefferies Group LLC
Lithia Motors, Inc. (NYSE:LAD)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a report released on Thursday. They presently have a $125.00 target price on the stock. Jefferies Group LLC’s target price indicates a potential upside of 21.81% from the stock’s previous close. Jefferies Group also issued estimates for Lithia Motors’ Q3 2017 earnings at $2.36 EPS, Q4 2017 earnings at $2.08 EPS, FY2017 earnings at $8.50 EPS, Q1 2018 earnings at $2.06 EPS, Q3 2018 earnings at $2.57 EPS, Q4 2018 earnings at $2.25 EPS and FY2018 earnings at $9.45 EPS.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Tuesday, April 25th. BidaskClub upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Seaport Global Securities started coverage on shares of Lithia Motors in a report on Wednesday, June 14th. They set a “neutral” rating for the company. Morgan Stanley restated an “overweight” rating and set a $116.00 price target (up from $106.00) on shares of Lithia Motors in a report on Wednesday. Finally, Bank of America Corporation cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Lithia Motors has a consensus rating of “Hold” and a consensus target price of $109.17.
Lithia Motors (NYSE LAD) opened at 102.62 on Thursday. The company’s 50-day moving average is $95.35 and its 200 day moving average is $93.79. Lithia Motors has a 12 month low of $75.85 and a 12 month high of $109.42. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 12.37 and a beta of 1.73.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.23 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. On average, equities research analysts predict that Lithia Motors will post $8.41 earnings per share for the current year.
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In other Lithia Motors news, Director Sidney B. Deboer sold 71,756 shares of Lithia Motors stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $103.40, for a total value of $7,419,570.40. Following the completion of the sale, the director now directly owns 28,668 shares in the company, valued at $2,964,271.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney B. Deboer sold 81,444 shares of Lithia Motors stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $99.39, for a total transaction of $8,094,719.16. Following the completion of the sale, the director now owns 48,668 shares of the company’s stock, valued at $4,837,112.52. The disclosure for this sale can be found here. Insiders sold 210,613 shares of company stock valued at $21,060,354 over the last quarter. Corporate insiders own 7.85% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Tyers Asset Management LLC boosted its stake in Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after buying an additional 224 shares during the period. Flinton Capital Management LLC boosted its stake in Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after buying an additional 272 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after buying an additional 146 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Lithia Motors during the first quarter worth about $176,000. Finally, Pitcairn Co. acquired a new stake in Lithia Motors during the second quarter worth about $211,000. Hedge funds and other institutional investors own 99.10% of the company’s stock.
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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