Lithia Motors, Inc. (LAD) Earns Buy Rating from KeyCorp

KeyCorp restated their buy rating on shares of Lithia Motors, Inc. (NYSE:LAD) in a report published on Wednesday. They currently have a $130.00 target price on the stock, up from their previous target price of $119.00.

Several other analysts also recently issued reports on LAD. Zacks Investment Research raised shares of Lithia Motors from a hold rating to a strong-buy rating and set a $121.00 price objective for the company in a report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a buy rating and set a $125.00 price objective on shares of Lithia Motors in a report on Thursday, August 3rd. Morgan Stanley reaffirmed an overweight rating and set a $116.00 price objective (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Seaport Global Securities assumed coverage on shares of Lithia Motors in a report on Wednesday, June 14th. They set a neutral rating for the company. Finally, BidaskClub raised shares of Lithia Motors from a sell rating to a hold rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $116.00.

Lithia Motors (NYSE:LAD) traded up 0.38% during midday trading on Wednesday, reaching $118.68. 173,422 shares of the company traded hands. The firm has a 50 day moving average of $111.55 and a 200-day moving average of $97.60. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 14.31 and a beta of 1.71. Lithia Motors has a 12 month low of $75.85 and a 12 month high of $123.50.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Friday, July 28th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. Lithia Motors’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 EPS. Analysts forecast that Lithia Motors will post $8.61 EPS for the current fiscal year.

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In related news, Director Sidney B. Deboer sold 13,200 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $97.50, for a total transaction of $1,287,000.00. Following the completion of the transaction, the director now directly owns 48,668 shares in the company, valued at approximately $4,745,130. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sidney B. Deboer sold 65,711 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $121.77, for a total transaction of $8,001,628.47. Following the transaction, the director now owns 1,421 shares of the company’s stock, valued at $173,035.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,981 shares of company stock valued at $33,812,652. Corporate insiders own 7.85% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. DF Dent & Co. Inc. raised its stake in 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 purchasing an additional 11 shares during the last quarter. Texas Permanent School Fund raised its stake in Lithia Motors by 0.3% during the 2nd quarter. Texas Permanent School Fund now owns 17,359 shares of the company’s stock valued at $1,636,000 after purchasing an additional 47 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Lithia Motors by 0.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,096 shares of the company’s stock valued at $1,234,000 after purchasing an additional 75 shares during the last quarter. D.A. Davidson & CO. raised its stake in Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares during the last quarter. Finally, Symphony Asset Management LLC raised its stake in Lithia Motors by 1.2% during the 2nd quarter. Symphony Asset Management LLC now owns 6,692 shares of the company’s stock valued at $631,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other 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.

Analyst Recommendations for Lithia Motors (NYSE:LAD)

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