KeyCorp Reaffirms “Buy” Rating for Lithia Motors, Inc. (LAD)
Lithia Motors, Inc. (NYSE:LAD)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a note issued to investors on Wednesday. They currently have a $130.00 target price on the stock, up from their previous target price of $119.00. KeyCorp’s price objective points to a potential upside of 6.76% from the company’s current price.
Several other analysts have also commented on LAD. Zacks Investment Research upgraded 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 reiterated a “buy” rating and set a $125.00 target price on shares of Lithia Motors in a report on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating and set a $116.00 target price (up previously from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Seaport Global Securities assumed coverage on Lithia Motors in a research report on Wednesday, June 14th. They issued a “neutral” rating for the company. Finally, BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a research 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 an average rating of “Buy” and a consensus price target of $116.00.
Lithia Motors (LAD) traded down 0.50% during mid-day trading on Wednesday, reaching $121.16. 126,669 shares of the company traded hands. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 14.60 and a beta of 1.71. The company’s 50-day moving average is $110.16 and its 200-day moving average is $97.08. Lithia Motors has a 12-month low of $75.85 and a 12-month high of $123.50.
Lithia Motors (NYSE:LAD) last announced its earnings results on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts predict that Lithia Motors will post $8.62 earnings per share for the current fiscal year.
In other Lithia Motors news, Director Sidney B. Deboer sold 13,200 shares of Lithia Motors stock in a transaction on Wednesday, July 12th. The stock was 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 owns 48,668 shares in the company, valued at $4,745,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sidney B. Deboer sold 81,444 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $99.39, for a total value of $8,094,719.16. Following the completion of the sale, the director now directly owns 48,668 shares in the company, valued at $4,837,112.52. The disclosure for this sale can be found here. Insiders have sold 312,981 shares of company stock worth $33,812,652 in the last three months. 7.85% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAD. D.A. Davidson & CO. increased its holdings in shares of Lithia Motors by 7.3% during the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after acquiring an additional 75 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lithia Motors by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock worth $113,000 after purchasing an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Lithia Motors by 10.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after purchasing an additional 146 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Lithia Motors in the 1st quarter worth about $176,000. Finally, Brighton Jones LLC purchased a new position in shares of Lithia Motors in the 2nd quarter worth about $201,000. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
About Lithia Motors
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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