Horizon Investments LLC Has $103,000 Stake in Lithia Motors, Inc. $LAD

Key Points

• Horizon Investments LLC sharply reduced its Lithia Motors stake in the fourth quarter, cutting its position by 93.2% to 311 shares worth about $103,000.
• Lithia Motors posted better-than-expected quarterly results, reporting $7.34 EPS versus $7.06 expected and revenue of $9.27 billion, while also increasing its quarterly dividend to $0.57 per share.
• Wall Street sentiment remains mixed but constructive, with analysts holding a consensus “Moderate Buy” rating and an average price target of $367.22, even as recent rating changes included both upgrades and downgrades.

Horizon Investments LLC decreased its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 93.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311 shares of the company's stock after selling 4,277 shares during the period. Horizon Investments LLC's holdings in Lithia Motors were worth $103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in Lithia Motors in the third quarter valued at $26,000. Eastern Bank bought a new stake in Lithia Motors in the third quarter valued at $31,000. Root Financial Partners LLC bought a new stake in Lithia Motors in the third quarter valued at $31,000. V Square Quantitative Management LLC bought a new stake in Lithia Motors in the fourth quarter valued at $34,000. Finally, Parkside Financial Bank & Trust increased its stake in Lithia Motors by 75.0% in the third quarter. Parkside Financial Bank & Trust now owns 105 shares of the company's stock valued at $33,000 after purchasing an additional 45 shares in the last quarter.

Lithia Motors Trading Down 0.1%

NYSE:LAD opened at $293.70 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24. The firm has a 50-day moving average of $267.24 and a 200-day moving average of $302.20. The company has a market cap of $6.70 billion, a PE ratio of 10.31, a PEG ratio of 0.65 and a beta of 1.28. Lithia Motors, Inc. has a one year low of $239.78 and a one year high of $360.55.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, topping the consensus estimate of $7.06 by $0.28. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.22 billion. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $7.66 earnings per share. As a group, equities research analysts expect that Lithia Motors, Inc. will post 34.29 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, May 8th. This is a boost from Lithia Motors's previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 0.8%. Lithia Motors's payout ratio is presently 8.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Lithia Motors from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on shares of Lithia Motors from $320.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen downgraded shares of Lithia Motors from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Bank of America decreased their price target on shares of Lithia Motors from $335.00 to $320.00 in a research note on Monday, April 13th. Finally, Wells Fargo & Company lifted their price target on shares of Lithia Motors from $293.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $367.22.

Lithia Motors Profile

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.

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