Lithia Motors, Inc. (LAD) Director Sells $1,700,688.00 in Stock
Lithia Motors, Inc. (NYSE:LAD) Director Sidney B. Deboer sold 17,600 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $96.63, for a total value of $1,700,688.00. Following the sale, the director now directly owns 75,068 shares of the company’s stock, valued at $7,253,820.84. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Lithia Motors, Inc. (LAD) traded down 3.38% during midday trading on Thursday, hitting $90.10. The stock had a trading volume of 377,802 shares. Lithia Motors, Inc. has a 1-year low of $69.36 and a 1-year high of $105.32. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 11.00 and a beta of 1.73. The company has a 50-day moving average of $91.42 and a 200-day moving average of $94.08.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 19th. The company reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.01. Lithia Motors had a return on equity of 21.91% and a net margin of 2.32%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned $1.55 EPS. Lithia Motors’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Lithia Motors, Inc. will post $8.27 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in LAD. Public Employees Retirement System of Ohio boosted its position in shares of Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after buying an additional 146 shares during the last quarter. Park West Asset Management LLC boosted its position in shares of Lithia Motors by 30.2% in the first quarter. Park West Asset Management LLC now owns 828,214 shares of the company’s stock worth $70,937,000 after buying an additional 192,280 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Lithia Motors by 7.9% in the first quarter. Westwood Holdings Group Inc. now owns 153,226 shares of the company’s stock worth $13,124,000 after buying an additional 11,180 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Lithia Motors during the first quarter worth approximately $487,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Lithia Motors during the first quarter worth approximately $388,000. Institutional investors own 98.94% of the company’s stock.
A number of research firms recently weighed in on LAD. Bank of America Corporation cut Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a report on Friday, June 16th. Seaport Global Securities began coverage on Lithia Motors in a report on Wednesday, June 14th. They set a “neutral” rating for the company. BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC set a $115.00 target price on Lithia Motors and gave the company a “buy” rating in a research note on Thursday, March 16th. Finally, Morgan Stanley lowered their target price on Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.83.
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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