Lithia Motors (NYSE:LAD) Earns Buy Rating from Analysts at Benchmark

Stock analysts at Benchmark began coverage on shares of Lithia Motors (NYSE:LAD) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $400.00 price target on the stock. Benchmark’s target price indicates a potential upside of 14.83% from the company’s previous close.

A number of other research analysts have also weighed in on LAD. JPMorgan Chase & Co. raised their price objective on shares of Lithia Motors from $375.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Citigroup boosted their price objective on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a report on Monday. Stephens upped their price target on Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Guggenheim lifted their price objective on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $361.45.

Lithia Motors Stock Up 1.0 %

LAD stock opened at $348.34 on Wednesday. The stock’s 50 day simple moving average is $368.70 and its 200 day simple moving average is $314.91. The company has a market cap of $9.28 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 6.25 and a beta of 1.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.18. Lithia Motors has a fifty-two week low of $243.00 and a fifty-two week high of $405.67.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same period in the prior year, the firm earned $9.25 earnings per share. Lithia Motors’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts expect that Lithia Motors will post 29.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, CEO Bryan B. Deboer sold 15,846 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $386.72, for a total transaction of $6,127,965.12. Following the completion of the transaction, the chief executive officer now owns 207,924 shares in the company, valued at $80,408,369.28. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tina Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total transaction of $392,720.00. Following the completion of the sale, the chief financial officer now directly owns 10,403 shares in the company, valued at approximately $4,085,466.16. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,290 shares of company stock valued at $17,959,596. Company insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new position in Lithia Motors in the 4th quarter worth about $232,000. GAMMA Investing LLC grew its stake in Lithia Motors by 30.5% during the fourth quarter. GAMMA Investing LLC now owns 167 shares of the company’s stock valued at $60,000 after acquiring an additional 39 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Lithia Motors by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock worth $82,560,000 after acquiring an additional 37,677 shares during the period. Retirement Systems of Alabama lifted its stake in Lithia Motors by 46.9% in the 3rd quarter. Retirement Systems of Alabama now owns 75,984 shares of the company’s stock worth $24,136,000 after purchasing an additional 24,258 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Lithia Motors by 2.4% in the 3rd quarter. Franklin Resources Inc. now owns 95,899 shares of the company’s stock valued at $29,585,000 after purchasing an additional 2,261 shares during the period.

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.