Lithia Motors, Inc. (NYSE:LAD) – Equities research analysts at KeyCorp decreased their Q2 2017 earnings estimates for shares of Lithia Motors in a research note issued on Sunday. KeyCorp analyst B. Hoselton now forecasts that the company will post earnings of $2.24 per share for the quarter, down from their previous estimate of $2.25.

Several other brokerages have also 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 target price for the company. in a research note on Friday, June 16th. Morgan Stanley decreased 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. Zacks Investment Research cut Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Lithia Motors in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Lithia Motors currently has a consensus rating of “Hold” and an average target price of $105.83.

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Lithia Motors (LAD) opened at 99.53 on Wednesday. Lithia Motors has a 1-year low of $75.85 and a 1-year high of $105.32. The firm has a market cap of $2.49 billion, a P/E ratio of 12.15 and a beta of 1.73. The stock’s 50 day moving average price is $93.86 and its 200 day moving average price is $93.75.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in Lithia Motors by 20.6% in the first quarter. Wells Fargo & Company MN now owns 326,881 shares of the company’s stock worth $27,998,000 after buying an additional 55,905 shares during the period. Punch & Associates Investment Management Inc. raised its position in Lithia Motors by 2.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 96,114 shares of the company’s stock worth $8,232,000 after buying an additional 2,118 shares during the period. Russell Investments Group Ltd. raised its position in Lithia Motors by 5.5% in the first quarter. Russell Investments Group Ltd. now owns 162,623 shares of the company’s stock worth $13,928,000 after buying an additional 8,548 shares during the period. State of Alaska Department of Revenue raised its position in Lithia Motors by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 2,640 shares of the company’s stock worth $226,000 after buying an additional 110 shares during the period. Finally, Legato Capital Management LLC raised its position in Lithia Motors by 8,465.0% in the first quarter. Legato Capital Management LLC now owns 87,192 shares of the company’s stock worth $1,018,000 after buying an additional 86,174 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Bryan B. Deboer sold 4,687 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $95.00, for a total transaction of $445,265.00. Following the completion of the transaction, the chief executive officer now owns 121,649 shares of the company’s stock, valued at $11,556,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan O. Cain sold 2,317 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $92.49, for a total value of $214,299.33. Following the transaction, the director now directly owns 12,242 shares of the company’s stock, valued at approximately $1,132,262.58. The disclosure for this sale can be found here. Insiders have sold 178,544 shares of company stock valued at $17,481,048 in the last ninety days. Company insiders own 7.85% 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.

Earnings History and Estimates for Lithia Motors (NYSE:LAD)

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