Lithia Motors (LAD) Upgraded to Neutral at Bank of America
Lithia Motors (NYSE:LAD) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $128.00 price target on the stock. Bank of America’s price target would suggest a potential upside of 6.15% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. KeyCorp reissued a “buy” rating and issued a $130.00 target price on shares of Lithia Motors in a report on Monday, November 13th. Finally, Berenberg Bank began coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 target price on the stock. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Lithia Motors currently has an average rating of “Buy” and a consensus target price of $124.00.
Shares of Lithia Motors (LAD) traded up $0.05 during midday trading on Monday, reaching $120.58. 179,112 shares of the company’s stock were exchanged, compared to its average volume of 283,883. The company has a quick ratio of 0.26, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. Lithia Motors has a 1 year low of $80.88 and a 1 year high of $124.04. The company has a market capitalization of $3,030.00, a PE ratio of 14.65, a P/E/G ratio of 0.92 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last issued its 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). Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business earned $2.06 EPS. The business’s revenue was up 18.7% on a year-over-year basis. research analysts anticipate that Lithia Motors will post 8.34 earnings per share for the current year.
In other news, Director Susan O. Cain sold 1,302 shares of Lithia Motors stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $115.79, for a total transaction of $150,758.58. Following the sale, the director now owns 10,940 shares of the company’s stock, valued at $1,266,742.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth E. Roberts sold 5,000 shares of Lithia Motors stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the sale, the director now directly owns 110,064 shares in the company, valued at approximately $13,647,936. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,718 shares of company stock worth $1,275,932. Corporate insiders own 7.85% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LAD. D.A. Davidson & CO. raised its holdings in shares of Lithia Motors by 7.3% during the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after buying an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lithia Motors by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after acquiring an additional 105 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Lithia Motors during the third quarter valued at approximately $144,000. Public Employees Retirement System of Ohio increased its stake in shares of Lithia Motors by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock valued at $170,000 after acquiring an additional 204 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of Lithia Motors by 93.8% during the second quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after acquiring an additional 1,032 shares during the period. 98.47% of the stock is currently owned by institutional investors.
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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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