Lithia Motors, Inc. $LAD Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 6.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 244,598 shares of the company’s stock after acquiring an additional 15,832 shares during the quarter. JPMorgan Chase & Co. owned about 1.01% of Lithia Motors worth $77,295,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LAD. AGP Franklin LLC lifted its position in Lithia Motors by 0.3% during the third quarter. AGP Franklin LLC now owns 10,459 shares of the company’s stock valued at $3,305,000 after purchasing an additional 34 shares during the period. Arizona State Retirement System grew its position in Lithia Motors by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 7,702 shares of the company’s stock worth $2,434,000 after purchasing an additional 34 shares during the period. M&T Bank Corp raised its stake in shares of Lithia Motors by 2.4% during the 2nd quarter. M&T Bank Corp now owns 1,488 shares of the company’s stock valued at $503,000 after buying an additional 35 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Lithia Motors by 4.6% during the 2nd quarter. Vident Advisory LLC now owns 842 shares of the company’s stock valued at $285,000 after buying an additional 37 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Lithia Motors by 1.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,011 shares of the company’s stock valued at $951,000 after buying an additional 41 shares during the period.

Lithia Motors Price Performance

NYSE:LAD opened at $250.23 on Thursday. The company has a quick ratio of 0.26, a current ratio of 1.17 and a debt-to-equity ratio of 1.46. Lithia Motors, Inc. has a 52 week low of $249.01 and a 52 week high of $360.55. The stock’s 50-day moving average price is $303.65 and its 200-day moving average price is $315.67. The stock has a market capitalization of $5.85 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing analysts’ consensus estimates of $8.09 by ($1.35). The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $7.79 EPS. As a group, equities analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Lithia Motors’s payout ratio is presently 6.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LAD shares. JPMorgan Chase & Co. downgraded Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 target price on the stock. in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Bank of America started coverage on Lithia Motors in a research report on Wednesday, March 4th. They issued a “neutral” rating on the stock. Wall Street Zen cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Citigroup cut their target price on shares of Lithia Motors from $399.00 to $366.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $382.33.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.