Scotia Capital Inc. Acquires Shares of 11,939 Lithia Motors, Inc. (NYSE:LAD)

Key Points

• Scotia Capital Inc. acquired 11,939 shares of Lithia Motors, valued at approximately $3.5 million, during the first quarter.
• Lithia Motors reported an EPS of $10.24 for the last quarter, exceeding estimates and showing a strong revenue of $9.58 billion.
• The company announced a quarterly dividend of $0.55, with an annualized yield of 0.8%, payable on August 22nd.

Scotia Capital Inc. bought a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,939 shares of the company's stock, valued at approximately $3,505,000.

A number of other large investors have also recently made changes to their positions in the stock. Vident Advisory LLC lifted its holdings in Lithia Motors by 4.3% during the 4th quarter. Vident Advisory LLC now owns 780 shares of the company's stock valued at $279,000 after buying an additional 32 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Lithia Motors by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company's stock valued at $711,000 after acquiring an additional 35 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Lithia Motors by 5.6% in the fourth quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock valued at $250,000 after purchasing an additional 37 shares during the period. Mariner LLC grew its stake in Lithia Motors by 2.9% in the fourth quarter. Mariner LLC now owns 1,475 shares of the company's stock worth $527,000 after purchasing an additional 42 shares in the last quarter. Finally, CWM LLC increased its holdings in Lithia Motors by 30.1% during the 1st quarter. CWM LLC now owns 212 shares of the company's stock worth $62,000 after purchasing an additional 49 shares during the period.

Lithia Motors Price Performance

Shares of NYSE LAD opened at $284.50 on Tuesday. Lithia Motors, Inc. has a 52 week low of $255.32 and a 52 week high of $405.67. The business's 50 day moving average price is $324.91 and its 200 day moving average price is $322.17. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The firm has a market cap of $7.41 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.45 and a beta of 1.30.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating the consensus estimate of $9.78 by $0.46. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The business had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. On average, sell-side analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 8th. Lithia Motors's payout ratio is 6.52%.

Insider Activity

In other news, Director Shauna Mcintyre sold 256 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $293.05, for a total value of $75,020.80. Following the sale, the director owned 1,376 shares in the company, valued at $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LAD has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Bank of America increased their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and reduced their price target for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lithia Motors from $345.00 to $335.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Lithia Motors presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.80.

Lithia Motors Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.

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