Shares of Lithia Motors Inc (NYSE:LAD) have been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $128.13.
A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Lithia Motors from $129.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America lowered Lithia Motors from a “buy” rating to a “neutral” rating and increased their price target for the company from $102.00 to $115.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Longbow Research reaffirmed a “buy” rating and issued a $132.00 price target on shares of Lithia Motors in a research report on Sunday, July 7th. Stephens raised Lithia Motors from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $106.00 to $132.00 in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on Lithia Motors from $117.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th.
LAD traded down $0.29 during mid-day trading on Tuesday, hitting $128.47. 155,292 shares of the stock were exchanged, compared to its average volume of 326,063. The firm’s fifty day moving average price is $123.43. Lithia Motors has a 1-year low of $67.90 and a 1-year high of $139.18. The company has a current ratio of 1.16, a quick ratio of 0.23 and a debt-to-equity ratio of 1.23. The company has a market cap of $2.99 billion, a P/E ratio of 12.87, a PEG ratio of 1.03 and a beta of 1.11.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.20 dividend on an annualized basis and a yield of 0.93%. Lithia Motors’s dividend payout ratio is presently 12.02%.
In related news, Director Susan O. Cain sold 723 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $134.78, for a total transaction of $97,445.94. Following the transaction, the director now owns 11,651 shares in the company, valued at approximately $1,570,321.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.21% of the company’s stock.
Several hedge funds have recently made changes to their positions in LAD. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Lithia Motors by 1.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,680 shares of the company’s stock valued at $793,000 after buying an additional 80 shares during the period. 6 Meridian raised its holdings in Lithia Motors by 1.0% during the second quarter. 6 Meridian now owns 10,481 shares of the company’s stock worth $1,245,000 after purchasing an additional 106 shares during the last quarter. Bridge City Capital LLC raised its holdings in Lithia Motors by 0.5% during the second quarter. Bridge City Capital LLC now owns 24,343 shares of the company’s stock worth $2,891,000 after purchasing an additional 118 shares during the last quarter. Harfst & Associates Inc. raised its holdings in Lithia Motors by 3.4% during the first quarter. Harfst & Associates Inc. now owns 4,173 shares of the company’s stock worth $387,000 after purchasing an additional 138 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Lithia Motors by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,726 shares of the company’s stock worth $809,000 after purchasing an additional 158 shares during the last quarter.
Lithia Motors Company Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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