People s United Financial Inc. lifted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,173 shares of the company’s stock after purchasing an additional 352 shares during the period. People s United Financial Inc.’s holdings in Lithia Motors were worth $488,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in LAD. D.A. Davidson & CO. grew its holdings in shares of Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Lithia Motors by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Lithia Motors by 10.0% during 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 last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Lithia Motors during the 1st quarter valued at $176,000. Finally, Brighton Jones LLC bought a new position in shares of Lithia Motors during the 2nd quarter valued at $201,000. 98.47% of the stock is currently owned by institutional investors.

Several research firms recently commented on LAD. Bank of America Corporation lowered shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price on the stock. in a report on Friday, June 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $116.00 target price (up previously from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Berenberg Bank started coverage on shares of Lithia Motors in a report on Wednesday. They set a “hold” rating and a $126.00 target price on the stock. Finally, Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target on the stock in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued 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 $116.00.

Shares of Lithia Motors, Inc. (LAD) opened at 118.68 on Friday. The firm has a 50-day moving average of $111.55 and a 200-day moving average of $97.60. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $123.50. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 14.31 and a beta of 1.71.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.05. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. Equities research analysts forecast that Lithia Motors, Inc. will post $8.61 EPS for the current fiscal year.

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In other news, Director Sidney B. Deboer sold 65,711 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $121.77, for a total value of $8,001,628.47. Following the transaction, the director now directly owns 1,421 shares in the company, valued at $173,035.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth E. Roberts sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $118.00, for a total transaction of $590,000.00. Following the completion of the transaction, the director now owns 130,598 shares in the company, valued at $15,410,564. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 312,981 shares of company stock worth $33,812,652. Company insiders own 7.85% of the company’s stock.

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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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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