Lithia Motors (NYSE:LAD) Price Target Raised to $405.00 at Stephens

Lithia Motors (NYSE:LAD) had its price objective upped by Stephens from $360.00 to $405.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently issued reports on LAD. Bank of America increased their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup lifted their price target on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. The Goldman Sachs Group boosted their price target on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Lithia Motors from $302.00 to $299.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Finally, StockNews.com cut Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. One investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $350.80.

Lithia Motors Trading Down 0.0 %

Shares of Lithia Motors stock traded down $0.13 during trading on Thursday, reaching $335.19. 19,585 shares of the company were exchanged, compared to its average volume of 255,521. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.30 and a beta of 1.64. Lithia Motors has a twelve month low of $233.88 and a twelve month high of $341.84. The business has a 50-day moving average price of $299.06 and a 200-day moving average price of $274.82. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.61. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the previous year, the business posted $9.25 EPS. Lithia Motors’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Lithia Motors will post 28.74 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.63%. Lithia Motors’s payout ratio is 6.26%.

Insider Activity at Lithia Motors

In other news, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the sale, the director now directly owns 35,352 shares in the company, valued at $9,754,677.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,021 shares of company stock valued at $6,534,617 over the last ninety days. 1.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithia Motors

Hedge funds and other institutional investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Lithia Motors by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock worth $429,390,000 after acquiring an additional 217,867 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lithia Motors by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock worth $256,621,000 after purchasing an additional 203,543 shares during the period. Canada Pension Plan Investment Board grew its position in Lithia Motors by 7.2% during the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after buying an additional 48,938 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lithia Motors by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 260,470 shares of the company’s stock worth $65,756,000 after purchasing an additional 5,390 shares during the period. Finally, Chicago Capital LLC boosted its position in Lithia Motors by 1.2% during the third quarter. Chicago Capital LLC now owns 217,102 shares of the company’s stock worth $68,960,000 after purchasing an additional 2,666 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.