Benchmark Initiates Coverage on Lithia Motors (NYSE:LAD)

Benchmark initiated coverage on shares of Lithia Motors (NYSE:LAD) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $400.00 target price on the stock.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a research note on Monday. Stephens increased their price objective on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their price objective on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Morgan Stanley upgraded Lithia Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $361.45.

Lithia Motors Stock Performance

Shares of LAD stock opened at $348.34 on Wednesday. The firm has a 50 day moving average of $368.70 and a two-hundred day moving average of $314.91. The stock has a market capitalization of $9.28 billion, a PE ratio of 11.89, a P/E/G ratio of 6.25 and a beta of 1.67. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. Lithia Motors has a 52 week low of $243.00 and a 52 week high of $405.67.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.46 billion. During the same period last year, the business posted $9.25 earnings per share. Lithia Motors’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts predict that Lithia Motors will post 29.42 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, November 8th. Lithia Motors’s dividend payout ratio (DPR) is 7.24%.

Insider Buying and Selling at Lithia Motors

In related news, 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 value of $92,652.12. Following the transaction, the insider now owns 1,729 shares in the company, valued at $661,964.94. The trade was a 12.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Chris Holzshu sold 8,520 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the sale, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This represents a 21.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,290 shares of company stock worth $17,959,596. 1.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Lithia Motors

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Lithia Motors during the 3rd quarter worth $35,000. GAMMA Investing LLC increased its stake in shares of Lithia Motors by 30.5% during the fourth quarter. GAMMA Investing LLC now owns 167 shares of the company’s stock worth $60,000 after acquiring an additional 39 shares during the period. Blue Trust Inc. raised its holdings in Lithia Motors by 49.3% during the third quarter. Blue Trust Inc. now owns 200 shares of the company’s stock worth $64,000 after purchasing an additional 66 shares in the last quarter. Signaturefd LLC lifted its position in Lithia Motors by 23.9% in the third quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $79,000 after purchasing an additional 48 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lithia Motors in the 2nd quarter valued at approximately $80,000.

Lithia Motors Company Profile

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.