Lithia Motors (NYSE:LAD) Now Covered by Bank of America

Bank of America started coverage on shares of Lithia Motors (NYSE:LAD) in a research report report published on Wednesday. The brokerage issued a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Lithia Motors from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Barclays reduced their target price on shares of Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Evercore lifted their price target on shares of Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Wells Fargo & Company cut their price objective on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. cut shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 price objective on the stock. in a research note on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $386.00.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $272.88 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.17 and a quick ratio of 0.26. The business’s fifty day moving average price is $318.85 and its two-hundred day moving average price is $320.16. Lithia Motors has a fifty-two week low of $262.10 and a fifty-two week high of $360.55. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 8.49 and a beta of 1.20.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing the consensus estimate of $8.09 by ($1.35). Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the company posted $7.79 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts predict that Lithia Motors will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, March 6th. Lithia Motors’s payout ratio is presently 6.85%.

Insider Transactions at Lithia Motors

In other news, Director Congdon Stacy Loretz sold 75 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $360.00, for a total value of $27,000.00. Following the completion of the transaction, the director owned 1,810 shares in the company, valued at $651,600. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several institutional investors have recently added to or reduced their stakes in LAD. CoreCap Advisors LLC acquired a new position in Lithia Motors in the 3rd quarter worth $26,000. Bessemer Group Inc. boosted its position in shares of Lithia Motors by 114.6% during the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock worth $29,000 after buying an additional 47 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Lithia Motors by 1,383.3% during the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after buying an additional 83 shares in the last quarter. Eastern Bank acquired a new stake in Lithia Motors in the 3rd quarter valued at approximately $31,000. Finally, Root Financial Partners LLC bought a new stake in Lithia Motors in the 3rd quarter valued at approximately $31,000.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.