Lithia Motors, Inc. (LAD) Stake Lifted by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. boosted its stake in Lithia Motors, Inc. (NYSE:LAD) by 4.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 235,697 shares of the company’s stock after buying an additional 10,396 shares during the period. Rothschild Asset Management Inc. owned approximately 0.94% of Lithia Motors worth $28,357,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in LAD. Teachers Advisors LLC grew its stake in Lithia Motors by 4.5% in the 1st quarter. Teachers Advisors LLC now owns 41,749 shares of the company’s stock valued at $3,576,000 after buying an additional 1,782 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Lithia Motors in the 1st quarter valued at about $292,000. State Street Corp boosted its holdings in Lithia Motors by 6.0% in the 1st quarter. State Street Corp now owns 614,845 shares of the company’s stock valued at $52,662,000 after purchasing an additional 34,614 shares during the period. Public Employees Retirement System of Ohio boosted 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 period. Finally, State of Alaska Department of Revenue boosted its holdings in Lithia Motors by 77.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,693 shares of the company’s stock valued at $442,000 after purchasing an additional 2,053 shares during the period. Institutional investors and hedge funds own 98.47% of the company’s stock.
A number of analysts have issued reports on LAD shares. Jefferies Group LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Lithia Motors in a report on Thursday, August 3rd. KeyCorp reaffirmed a “buy” rating and set a $130.00 price target (up previously from $119.00) on shares of Lithia Motors in a report on Wednesday, October 4th. Zacks Investment Research downgraded shares of Lithia Motors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Berenberg Bank began coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $116.00 price objective (up previously from $106.00) on shares of Lithia Motors in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $116.29.
Shares of Lithia Motors, Inc. (LAD) traded up $1.20 during midday trading on Wednesday, reaching $114.71. 143,600 shares of the company’s stock traded hands, compared to its average volume of 270,047. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.26 and a current ratio of 1.21. Lithia Motors, Inc. has a 1 year low of $80.88 and a 1 year high of $123.50. The firm has a market cap of $2,832.98, a PE ratio of 14.01, a P/E/G ratio of 0.97 and a beta of 1.72.
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 Thomson Reuters’ consensus estimate of $2.37 by ($0.19). Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company posted $2.06 earnings per share. The company’s revenue was up 18.7% compared to the same quarter last year. analysts expect that Lithia Motors, Inc. will post 8.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, November 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 13.12%.
In related news, Director Sidney B. Deboer sold 65,711 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $121.77, for a total transaction of $8,001,628.47. Following the transaction, the director now directly owns 1,421 shares of the company’s stock, valued at $173,035.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sidney B. Deboer sold 831 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $113.32, for a total transaction of $94,168.92. Following the transaction, the director now directly owns 433 shares in the company, valued at $49,067.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,573 shares of company stock valued at $13,465,667. 7.85% of the stock is currently owned by corporate insiders.
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Lithia Motors 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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