Lithia Motors, Inc. (LAD) Receives “Buy” Rating from KeyCorp
Lithia Motors, Inc. (NYSE:LAD)‘s stock had its “buy” rating reaffirmed by KeyCorp in a note issued to investors on Monday. They currently have a $130.00 price target on the stock. KeyCorp’s target price would indicate a potential upside of 14.13% from the company’s current price.
LAD has been the topic of a number of other research reports. 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 research note on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and issued a $125.00 target price on shares of Lithia Motors in a research note on Thursday, August 3rd. Berenberg Bank initiated coverage on Lithia Motors in a research note on Wednesday, October 4th. They issued a “hold” rating and a $126.00 target price on the stock. Finally, Zacks Investment Research upgraded Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $116.29.
Lithia Motors (LAD) traded up $0.14 during trading on Monday, reaching $113.91. The company’s stock had a trading volume of 254,300 shares, compared to its average volume of 274,179. The company has a current ratio of 1.21, a quick ratio of 0.26 and a debt-to-equity ratio of 0.96. The stock has a market cap of $2,842.97, a P/E ratio of 14.06, a PEG ratio of 0.97 and a beta of 1.72. Lithia Motors has a twelve month low of $80.88 and a twelve month high of $123.50.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.19). The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.06 EPS. analysts expect that Lithia Motors will post 8.33 EPS for the current fiscal year.
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In related news, insider George Chun-Wai Liang sold 1,970 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $105.62, for a total value of $208,071.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sidney B. Deboer sold 65,711 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $121.77, for a total value of $8,001,628.47. Following the completion of the transaction, the director now directly owns 1,421 shares of the company’s stock, valued at approximately $173,035.17. The disclosure for this sale can be found here. Insiders sold a total of 145,581 shares of company stock valued at $16,905,722 in the last ninety days. 7.85% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAD. Victory Capital Management Inc. raised its holdings in Lithia Motors by 139.5% in the 2nd quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock worth $90,063,000 after purchasing an additional 556,684 shares during the period. Harbour Capital Advisors LLC raised its holdings in Lithia Motors by 6,308.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 383,516 shares of the company’s stock worth $4,070,000 after purchasing an additional 377,531 shares during the period. Aberdeen Asset Management PLC UK acquired a new position in Lithia Motors in the 2nd quarter worth about $32,031,000. Koch Industries Inc. acquired a new position in Lithia Motors in the 2nd quarter worth about $201,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in Lithia Motors in the 3rd quarter worth about $20,620,000. 98.47% of the stock is owned by 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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