Lithia Motors (NYSE:LAD) Sets New 52-Week High After Analyst Upgrade

Shares of Lithia Motors, Inc. (NYSE:LAD) hit a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $375.00 to $405.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as high as $348.09 and last traded at $344.22, with a volume of 28126 shares trading hands. The stock had previously closed at $344.08.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Lithia Motors from a “hold” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company raised their price target on shares of Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Guggenheim lifted their price objective on Lithia Motors from $350.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup boosted their target price on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group increased their price target on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $353.80.

Insider Transactions at Lithia Motors

In related news, COO Chris Holzshu sold 8,520 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the completion of the transaction, the chief operating officer now owns 32,054 shares in the company, valued at $10,744,821.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the sale, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chris Holzshu sold 8,520 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the transaction, the chief operating officer now owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,235 shares of company stock worth $9,301,973. 1.79% of the stock is currently owned by insiders.

Institutional Trading of Lithia Motors

A number of hedge funds have recently modified their holdings of LAD. BNP Paribas Financial Markets boosted its stake in Lithia Motors by 132.9% during the first quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company’s stock worth $5,758,000 after acquiring an additional 10,920 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Lithia Motors in the second quarter valued at about $607,000. Comerica Bank grew its position in Lithia Motors by 89.0% during the first quarter. Comerica Bank now owns 29,473 shares of the company’s stock valued at $8,867,000 after buying an additional 13,875 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Lithia Motors by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 203,062 shares of the company’s stock worth $61,318,000 after purchasing an additional 20,416 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Lithia Motors by 22.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 70,405 shares of the company’s stock valued at $17,774,000 after buying an additional 13,126 shares in the last quarter.

Lithia Motors Trading Up 5.3 %

The stock’s 50-day simple moving average is $308.28 and its two-hundred day simple moving average is $279.73. The firm has a market capitalization of $9.83 billion, a P/E ratio of 12.60 and a beta of 1.63. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating the consensus estimate of $7.60 by $0.61. The business had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.25 EPS. Equities research analysts expect that Lithia Motors, Inc. will post 28.99 EPS for the current year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.57%. Lithia Motors’s payout ratio is currently 7.24%.

About Lithia Motors

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company’s Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.