Lithia Motors (NYSE:LAD) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Friday.
A number of other brokerages have also weighed in on LAD. Buckingham Research decreased their target price on Lithia Motors from $129.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. ValuEngine lowered Lithia Motors from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 25th. Zacks Investment Research lowered Lithia Motors from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Craig Hallum decreased their target price on Lithia Motors from $120.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. Finally, Morgan Stanley upgraded Lithia Motors to a “buy” rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Lithia Motors presently has an average rating of “Hold” and a consensus target price of $113.57.
Shares of LAD opened at $85.36 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.75 and a beta of 1.58. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.23 and a current ratio of 1.20. Lithia Motors has a 52-week low of $78.85 and a 52-week high of $127.99.
In other news, insider John F. North acquired 1,175 shares of Lithia Motors stock in a transaction dated Monday, July 30th. The shares were purchased at an average cost of $84.91 per share, for a total transaction of $99,769.25. Following the transaction, the insider now owns 15,481 shares of the company’s stock, valued at $1,314,491.71. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Holzshu acquired 1,250 shares of Lithia Motors stock in a transaction dated Friday, July 27th. The shares were purchased at an average price of $82.23 per share, for a total transaction of $102,787.50. Following the completion of the transaction, the insider now directly owns 35,862 shares in the company, valued at approximately $2,948,932.26. The disclosure for this purchase can be found here. 5.95% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in LAD. Abrams Capital Management L.P. bought a new position in shares of Lithia Motors during the 2nd quarter valued at about $98,384,000. BlackRock Inc. increased its position in shares of Lithia Motors by 25.4% during the 2nd quarter. BlackRock Inc. now owns 4,027,924 shares of the company’s stock valued at $380,921,000 after purchasing an additional 815,830 shares during the last quarter. Park West Asset Management LLC increased its position in shares of Lithia Motors by 22.4% during the 1st quarter. Park West Asset Management LLC now owns 957,565 shares of the company’s stock valued at $96,254,000 after purchasing an additional 175,400 shares during the last quarter. FMR LLC increased its position in shares of Lithia Motors by 66.3% during the 2nd quarter. FMR LLC now owns 401,208 shares of the company’s stock valued at $37,942,000 after purchasing an additional 160,016 shares during the last quarter. Finally, Cardinal Capital Management LLC CT grew its position in Lithia Motors by 18.3% during the 1st quarter. Cardinal Capital Management LLC CT now owns 640,614 shares of the company’s stock worth $64,394,000 after acquiring an additional 98,966 shares during the last quarter.
About Lithia Motors
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
Read More: Fundamental Analysis
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