Lithia Motors, Inc. (LAD) Given Consensus Recommendation of “Hold” by Brokerages
Lithia Motors, Inc. (NYSE:LAD) has earned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $115.50.
Several equities research analysts recently commented on LAD shares. KeyCorp reissued a “buy” rating and set a $130.00 target price on shares of Lithia Motors in a report on Monday, November 13th. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a report on Wednesday, August 23rd. Finally, Berenberg Bank started coverage on Lithia Motors in a report on Wednesday, October 4th. They set a “hold” rating and a $126.00 target price on the stock.
Lithia Motors (NYSE LAD) opened at $120.22 on Thursday. The company has a quick ratio of 0.26, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. Lithia Motors has a 52 week low of $80.88 and a 52 week high of $123.50. The company has a market capitalization of $3,033.65, a PE ratio of 15.01, a P/E/G ratio of 1.03 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.19). The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. analysts anticipate that Lithia Motors will post 8.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were issued a $0.27 dividend. The ex-dividend date was Thursday, November 9th. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Lithia Motors’s dividend payout ratio is currently 13.12%.
In other Lithia Motors news, Director Kenneth E. Roberts sold 534 shares of Lithia Motors stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $122.62, for a total transaction of $65,479.08. Following the transaction, the director now directly owns 115,064 shares in the company, valued at approximately $14,109,147.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth E. Roberts sold 15,000 shares of Lithia Motors stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $115.98, for a total transaction of $1,739,700.00. Following the transaction, the director now owns 130,598 shares in the company, valued at $15,146,756.04. The disclosure for this sale can be found here. Insiders sold 116,429 shares of company stock worth $13,917,011 in the last ninety days. 7.85% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LAD. Victory Capital Management Inc. grew its holdings in shares of Lithia Motors by 139.5% during the 2nd quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock valued at $90,063,000 after acquiring an additional 556,684 shares in the last quarter. Aberdeen Asset Management PLC UK purchased a new position in shares of Lithia Motors during the 2nd quarter valued at $32,031,000. Koch Industries Inc. purchased a new position in shares of Lithia Motors during the 2nd quarter valued at $201,000. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Lithia Motors during the 3rd quarter valued at $20,620,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Lithia Motors by 22.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 411,459 shares of the company’s stock valued at $48,820,000 after acquiring an additional 76,601 shares in the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.
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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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