Lithia Motors, Inc. (NYSE:LAD – Get Rating) hit a new 52-week low during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $325.00 to $285.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as low as $209.00 and last traded at $211.35, with a volume of 477820 shares changing hands. The stock had previously closed at $217.25.
A number of other equities analysts have also recently commented on the stock. StockNews.com cut shares of Lithia Motors from a “buy” rating to a “hold” rating in a research note on Saturday, July 23rd. Wells Fargo & Company reduced their price target on Lithia Motors from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. TheStreet lowered Lithia Motors from a “b” rating to a “c+” rating in a research note on Friday, September 30th. Morgan Stanley cut their price objective on Lithia Motors from $260.00 to $220.00 and set an “underweight” rating on the stock in a research report on Thursday, July 14th. Finally, Bank of America lowered their target price on shares of Lithia Motors from $565.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and an average price target of $380.20.
Insiders Place Their Bets
In related news, Director Shauna Mcintyre sold 135 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $271.55, for a total value of $36,659.25. Following the completion of the sale, the director now directly owns 2,019 shares of the company’s stock, valued at $548,259.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $271.55, for a total value of $36,659.25. Following the completion of the transaction, the director now owns 2,019 shares of the company’s stock, valued at $548,259.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sidney B. Deboer bought 1,000 shares of the company’s stock in a transaction on Friday, August 19th. The shares were bought at an average cost of $268.43 per share, for a total transaction of $268,430.00. Following the transaction, the director now directly owns 36,735 shares in the company, valued at approximately $9,860,776.05. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.
Institutional Investors Weigh In On Lithia Motors
Several institutional investors have recently bought and sold shares of LAD. Fulton Bank N.A. raised its stake in Lithia Motors by 6.8% in the third quarter. Fulton Bank N.A. now owns 4,370 shares of the company’s stock valued at $937,000 after buying an additional 279 shares during the last quarter. Red Spruce Capital LLC raised its holdings in Lithia Motors by 10.7% in the 3rd quarter. Red Spruce Capital LLC now owns 7,719 shares of the company’s stock worth $1,656,000 after purchasing an additional 746 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Lithia Motors by 77.5% during the 2nd quarter. Royal London Asset Management Ltd. now owns 554,398 shares of the company’s stock valued at $152,501,000 after buying an additional 242,086 shares in the last quarter. Verition Fund Management LLC purchased a new position in Lithia Motors during the second quarter valued at $336,000. Finally, ExodusPoint Capital Management LP purchased a new position in Lithia Motors in the 2nd quarter valued at about $370,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.
Lithia Motors Price Performance
The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40. The stock has a 50 day moving average price of $253.59 and a 200-day moving average price of $278.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.59 and a quick ratio of 0.45.
Lithia Motors (NYSE:LAD – Get Rating) last issued its earnings results on Wednesday, July 20th. The company reported $12.18 EPS for the quarter, missing analysts’ consensus estimates of $12.22 by ($0.04). Lithia Motors had a return on equity of 29.61% and a net margin of 4.82%. The firm had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.22 billion. During the same period last year, the firm earned $11.12 earnings per share. Lithia Motors’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts forecast that Lithia Motors, Inc. will post 47.78 earnings per share for the current year.
Lithia Motors Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 0.79%. Lithia Motors’s dividend payout ratio is currently 3.92%.
Lithia Motors Company Profile
Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts under the Driveway and GreenCars brand names.