Lithia Motors, Inc. (LAD) Stake Maintained by Harfst & Associates Inc.
Harfst & Associates Inc. held its position in Lithia Motors, Inc. (NYSE:LAD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,760 shares of the company’s stock at the end of the 2nd quarter. Harfst & Associates Inc.’s holdings in Lithia Motors were worth $354,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LAD. BlackRock Inc. raised its position in shares of Lithia Motors by 152,203.5% during the first quarter. BlackRock Inc. now owns 2,901,382 shares of the company’s stock worth $248,504,000 after purchasing an additional 2,899,477 shares during the period. Victory Capital Management Inc. raised its position in shares of Lithia Motors by 139.5% during the second 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 position in shares of Lithia Motors by 6,308.0% during the second 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 stake in shares of Lithia Motors during the second quarter worth about $32,031,000. Finally, Park West Asset Management LLC raised its position in shares of Lithia Motors by 30.2% during the first quarter. Park West Asset Management LLC now owns 828,214 shares of the company’s stock worth $70,937,000 after purchasing an additional 192,280 shares during the period. 98.47% of the stock is currently owned by institutional investors.
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A number of equities research analysts have recently commented on the company. Zacks Investment Research raised 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. Jefferies Group LLC reiterated a “buy” rating and set a $125.00 price objective on shares of Lithia Motors in a report on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating and set a $116.00 price objective (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Seaport Global Securities initiated coverage on Lithia Motors in a report on Wednesday, June 14th. They set a “neutral” rating for the company. Finally, BidaskClub upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.00.
Lithia Motors, Inc. (NYSE:LAD) traded up 1.85% on Friday, hitting $116.44. The company had a trading volume of 220,449 shares. The company has a market capitalization of $2.91 billion, a P/E ratio of 14.04 and a beta of 1.73. The stock’s 50-day moving average price is $105.78 and its 200 day moving average price is $95.31. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $116.68.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the business earned $1.96 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts expect that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is currently 13.01%.
In related news, insider George Chun-Wai Liang sold 1,970 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $105.62, for a total transaction of $208,071.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas R. Becker sold 1,031 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $107.10, for a total value of $110,420.10. Following the transaction, the director now directly owns 65,704 shares in the company, valued at $7,036,898.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,870 shares of company stock worth $22,252,261. 7.85% of the stock is owned by company insiders.
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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