Guggenheim lowered shares of Lithia Motors (NYSE:LAD - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat reports.
LAD has been the topic of several other research reports. Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a buy rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company cut their target price on Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Stephens restated an overweight rating and set a $375.00 price target on shares of Lithia Motors in a research note on Wednesday, February 14th. The Goldman Sachs Group lifted their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a report on Thursday, February 15th. Finally, Bank of America boosted their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $318.55.
Check Out Our Latest Stock Analysis on LAD
Lithia Motors Trading Down 0.2 %
Shares of LAD stock traded down $0.61 during trading hours on Friday, hitting $268.34. 185,566 shares of the company were exchanged, compared to its average volume of 227,936. The firm has a market cap of $7.36 billion, a P/E ratio of 7.92, a P/E/G ratio of 2.76 and a beta of 1.59. Lithia Motors has a fifty-two week low of $218.99 and a fifty-two week high of $331.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17. The company has a 50 day simple moving average of $274.22 and a two-hundred day simple moving average of $284.04.
Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The firm's revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $8.44 earnings per share. Equities analysts anticipate that Lithia Motors will post 28.78 EPS for the current year.
Lithia Motors Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.53 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from Lithia Motors's previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 0.79%. Lithia Motors's dividend payout ratio is currently 6.26%.
Insider Buying and Selling
In other news, Director Shauna Mcintyre sold 138 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the sale, the director now directly owns 2,228 shares of the company's stock, valued at approximately $566,847.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.79% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Lithia Motors in the fourth quarter valued at approximately $123,976,000. Cadian Capital Management LP bought a new position in shares of Lithia Motors during the 4th quarter worth $105,370,000. Wellington Management Group LLP increased its holdings in Lithia Motors by 413.6% in the 4th quarter. Wellington Management Group LLP now owns 65,142 shares of the company's stock worth $21,450,000 after acquiring an additional 52,458 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Lithia Motors by 7.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company's stock valued at $218,981,000 after acquiring an additional 48,938 shares during the period. Finally, FMR LLC lifted its holdings in Lithia Motors by 10.3% during the third quarter. FMR LLC now owns 492,273 shares of the company's stock valued at $145,383,000 after purchasing an additional 45,977 shares during the last quarter.
Lithia Motors Company Profile
(
Get Free Report)
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.
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