Guggenheim Boosts Lithia Motors (NYSE:LAD) Price Target to $418.00

Lithia Motors (NYSE:LAD) had its price target upped by Guggenheim from $380.00 to $418.00 in a report issued on Thursday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts also recently commented on LAD. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upped their price target on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Citigroup lifted their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, September 27th. The Goldman Sachs Group upped their price objective on Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Stephens boosted their price target on Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $357.60.

Lithia Motors Stock Performance

Shares of LAD opened at $390.86 on Thursday. Lithia Motors has a 1 year low of $243.00 and a 1 year high of $391.14. The company’s 50 day simple moving average is $330.58 and its 200 day simple moving average is $289.79. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 13.34 and a beta of 1.63. 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 (NYSE:LAD) last issued its quarterly 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. The company had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.25 EPS. On average, sell-side analysts predict that Lithia Motors will post 29.09 EPS for the current year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors’s dividend payout ratio is presently 7.24%.

Insider Transactions at Lithia Motors

In related news, CEO Bryan B. Deboer sold 15,846 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $386.72, for a total value of $6,127,965.12. Following the sale, the chief executive officer now directly owns 207,924 shares of the company’s stock, valued at $80,408,369.28. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary M. Glandon sold 242 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $382.86, for a total transaction of $92,652.12. Following the completion of the sale, the insider now directly owns 1,729 shares of the company’s stock, valued at $661,964.94. The trade was a 12.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,698 shares of company stock valued at $13,309,244. Corporate insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its stake in shares of Lithia Motors by 1.3% in the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after purchasing an additional 48 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Lithia Motors by 23.9% during the third quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $79,000 after acquiring an additional 48 shares during the period. M&T Bank Corp raised its position in Lithia Motors by 2.6% during the third quarter. M&T Bank Corp now owns 1,911 shares of the company’s stock valued at $607,000 after buying an additional 49 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Lithia Motors by 12.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock worth $116,000 after purchasing an additional 52 shares during the period. Finally, Versor Investments LP boosted its position in Lithia Motors by 7.0% during the third quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after purchasing an additional 56 shares during the last quarter.

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.