Lithia Motors, Inc. (LAD) Director Sidney B. Deboer Sells 3,051 Shares of Stock
Lithia Motors, Inc. (NYSE:LAD) Director Sidney B. Deboer sold 3,051 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $113.25, for a total transaction of $345,525.75. Following the completion of the transaction, the director now directly owns 433 shares in the company, valued at $49,037.25. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Lithia Motors, Inc. (NYSE:LAD) traded up $1.22 during midday trading on Friday, hitting $115.23. 77,688 shares of the stock were exchanged, compared to its average volume of 218,853. The firm has a market cap of $2,910.00, a P/E ratio of 14.07, a P/E/G ratio of 0.97 and a beta of 1.72. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26. Lithia Motors, Inc. has a fifty-two week low of $80.88 and a fifty-two week high of $123.50.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.19). The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 EPS. equities research analysts forecast that Lithia Motors, Inc. will post 8.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a dividend of $0.27 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.94%. Lithia Motors’s dividend payout ratio is currently 13.12%.
Several hedge funds and other institutional investors have recently made changes to their positions in LAD. D.A. Davidson & CO. increased its holdings in shares of Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after buying an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lithia Motors by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Lithia Motors by 10.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock valued at $137,000 after purchasing an additional 146 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Lithia Motors in the 3rd quarter valued at approximately $144,000. Finally, Riverhead Capital Management LLC increased its holdings in Lithia Motors by 93.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after purchasing an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
A number of brokerages recently weighed in on LAD. 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 note on Wednesday, August 23rd. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target on shares of Lithia Motors in a research note on Monday, November 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Lithia Motors in a research note on Thursday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $116.00 price target (up from $106.00) on shares of Lithia Motors in a research note on Wednesday, August 2nd. Finally, Berenberg Bank initiated coverage on shares of Lithia Motors in a research note on Wednesday, October 4th. They issued a “hold” rating and a $126.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $116.29.
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About Lithia Motors
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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