Lithia Motors, Inc. (LAD) Coverage Initiated by Analysts at Berenberg Bank
Research analysts at Berenberg Bank started coverage on shares of Lithia Motors, Inc. (NYSE:LAD) in a report issued on Wednesday. The firm set a “hold” rating on the stock.
LAD has been the subject of a number of other reports. Bank of America Corporation cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective for the company. in a report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and issued a $116.00 target price (up previously from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target on the stock in a research report on Wednesday, August 23rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $115.00 price target on shares of Lithia Motors in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $114.57.
Shares of Lithia Motors (LAD) opened at 121.77 on Wednesday. The company’s 50-day moving average price is $110.16 and its 200 day moving average price is $97.08. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 14.68 and a beta of 1.71. Lithia Motors has a 12-month low of $75.85 and a 12-month high of $123.50.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. Equities analysts predict that Lithia Motors will post $8.62 earnings per share for the current year.
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In other Lithia Motors news, Director Sidney B. Deboer sold 13,200 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $97.50, for a total value of $1,287,000.00. Following the transaction, the director now directly owns 48,668 shares in the company, valued at $4,745,130. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer sold 81,444 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $99.39, for a total transaction of $8,094,719.16. Following the completion of the transaction, the director now owns 48,668 shares in the company, valued at $4,837,112.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,981 shares of company stock valued at $33,812,652. 7.85% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its stake in shares of Lithia Motors by 23.6% during the 2nd quarter. First Trust Advisors LP now owns 25,190 shares of the company’s stock worth $2,374,000 after purchasing an additional 4,811 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Lithia Motors in the 2nd quarter worth approximately $201,000. Ray Gerald L & Associates Ltd. grew its holdings in Lithia Motors by 9.1% during the second quarter. Ray Gerald L & Associates Ltd. now owns 5,400 shares of the company’s stock valued at $509,000 after purchasing an additional 450 shares during the period. Ameritas Investment Partners Inc. bought a new position in Lithia Motors during the first quarter valued at $176,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Lithia Motors by 5.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $531,000 after purchasing an additional 310 shares during the period. 98.47% of the stock is owned by hedge funds and other institutional investors.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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