Lithia Motors (NYSE:LAD) Sees Strong Trading Volume After Analyst Upgrade

Lithia Motors, Inc. (NYSE:LAD) saw unusually-high trading volume on Thursday after Wells Fargo & Company raised their price target on the stock from $343.00 to $346.00. Wells Fargo & Company currently has an equal weight rating on the stock. Approximately 278,574 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 251,988 shares.The stock last traded at $358.31 and had previously closed at $362.83.

Other equities research analysts have also issued reports about the stock. Benchmark began coverage on shares of Lithia Motors in a report on Wednesday, January 8th. They issued a “buy” rating and a $400.00 price objective for the company. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $225.00 to $310.00 in a research report on Wednesday, September 25th. Stephens lifted their price objective on Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup increased their target price on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. lifted their price target on Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $361.73.

Insider Buying and Selling

In other Lithia Motors news, CFO Tina Miller sold 1,000 shares of Lithia Motors stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total value of $392,720.00. Following the completion of the sale, the chief financial officer now owns 10,403 shares of the company’s stock, valued at approximately $4,085,466.16. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bryan B. Deboer sold 15,846 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $386.72, for a total value of $6,127,965.12. Following the completion of the transaction, the chief executive officer now directly owns 207,924 shares in the company, valued at approximately $80,408,369.28. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,290 shares of company stock valued at $17,959,596 over the last ninety days. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Lithia Motors during the third quarter valued at approximately $35,000. GAMMA Investing LLC grew its position in shares of Lithia Motors by 30.5% during the 4th quarter. GAMMA Investing LLC now owns 167 shares of the company’s stock valued at $60,000 after acquiring an additional 39 shares during the period. Blue Trust Inc. increased its stake in shares of Lithia Motors by 49.3% in the 3rd quarter. Blue Trust Inc. now owns 200 shares of the company’s stock worth $64,000 after purchasing an additional 66 shares in the last quarter. Signaturefd LLC raised its holdings in Lithia Motors by 23.9% in the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after purchasing an additional 48 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Lithia Motors during the second quarter valued at $80,000.

Lithia Motors Stock Performance

The business has a 50-day simple moving average of $369.18 and a 200 day simple moving average of $318.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. The firm has a market cap of $9.51 billion, a PE ratio of 12.18, a PEG ratio of 4.77 and a beta of 1.67.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.61. The business had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.25 earnings per share. Equities research analysts forecast that Lithia Motors, Inc. will post 29.42 EPS for the current year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.59%. Lithia Motors’s payout ratio is 7.24%.

Lithia Motors Company 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.