KeyCorp Reiterates “Buy” Rating for Lithia Motors, Inc. (NYSE:LAD)
Lithia Motors, Inc. (NYSE:LAD)‘s stock had its “buy” rating restated by equities researchers at KeyCorp in a research note issued on Wednesday, October 4th. They currently have a $130.00 target price on the stock, up from their previous target price of $119.00. KeyCorp’s price target points to a potential upside of 13.32% from the stock’s current price.
Several other research firms have also issued reports on LAD. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Lithia Motors in a research report on Thursday, August 3rd. Seaport Global Securities began coverage on Lithia Motors in a research report on Wednesday, June 14th. They issued a “neutral” rating for the company. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target for the company in a research report on Wednesday, August 23rd. BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley lowered their price target on Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $116.00.
Shares of Lithia Motors (NYSE:LAD) traded down 0.27% during mid-day trading on Wednesday, reaching $114.72. 133,695 shares of the company’s stock traded hands. Lithia Motors has a 12 month low of $75.85 and a 12 month high of $123.50. The stock has a market cap of $2.87 billion, a PE ratio of 13.83 and a beta of 1.71. The firm has a 50 day moving average price of $113.46 and a 200-day moving average price of $98.69.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.23 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.45 billion. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. On average, analysts predict that Lithia Motors will post $8.61 earnings per share for the current fiscal year.
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In other Lithia Motors news, Director Thomas R. Becker sold 1,031 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $107.10, for a total transaction of $110,420.10. Following the completion of the sale, the director now directly owns 65,704 shares in the company, valued at approximately $7,036,898.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan O. Cain sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $105.64, for a total value of $105,640.00. Following the sale, the director now owns 12,242 shares of the company’s stock, valued at $1,293,244.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,337 shares of company stock valued at $24,430,932. Corporate insiders own 7.85% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. DF Dent & Co. Inc. grew its stake in shares of Lithia Motors by 0.3% during the 1st quarter. DF Dent & Co. Inc. now owns 4,091 shares of the company’s stock valued at $350,000 after acquiring an additional 11 shares during the period. Texas Permanent School Fund lifted its holdings in Lithia Motors by 0.3% in the 2nd quarter. Texas Permanent School Fund now owns 17,359 shares of the company’s stock worth $1,636,000 after purchasing an additional 47 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Lithia Motors by 0.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,096 shares of the company’s stock worth $1,234,000 after purchasing an additional 75 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Lithia Motors by 7.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after purchasing an additional 75 shares in the last quarter. Finally, Symphony Asset Management LLC lifted its holdings in Lithia Motors by 1.2% in the 2nd quarter. Symphony Asset Management LLC now owns 6,692 shares of the company’s stock worth $631,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.
Lithia Motors Company Profile
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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