Lithia Motors (LAD) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Lithia Motors (NYSE:LAD) released its quarterly earnings results on Wednesday. The company reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.06, Bloomberg Earnings reports. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. Lithia Motors updated its FY18 guidance to $10.50 EPS.

Lithia Motors (NYSE:LAD) opened at $118.05 on Wednesday. The company has a market capitalization of $2,942.55, a PE ratio of 14.34, a P/E/G ratio of 0.61 and a beta of 1.66. Lithia Motors has a 12-month low of $80.88 and a 12-month high of $127.99. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26.

Several research analysts recently commented on LAD shares. KeyCorp reiterated a “buy” rating and issued a $130.00 price target on shares of Lithia Motors in a research report on Monday, November 13th. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Bank of America upgraded Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price target for the company in a research report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Lithia Motors currently has a consensus rating of “Buy” and an average target price of $127.33.

In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $126.00, for a total transaction of $630,000.00. Following the completion of the transaction, the director now owns 105,064 shares in the company, valued at $13,238,064. 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 3,051 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $113.25, for a total value of $345,525.75. Following the transaction, the director now owns 433 shares of the company’s stock, valued at approximately $49,037.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,718 shares of company stock valued at $1,905,932. 7.85% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in LAD. Victory Capital Management Inc. boosted its position in shares of Lithia Motors by 23.7% during the third quarter. Victory Capital Management Inc. now owns 1,182,723 shares of the company’s stock valued at $142,294,000 after buying an additional 226,940 shares during the period. Koch Industries Inc. purchased a new position in shares of Lithia Motors during the second quarter valued at approximately $201,000. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Lithia Motors during the third quarter valued at approximately $20,620,000. JPMorgan Chase & Co. boosted its position in shares of Lithia Motors by 22.9% during the third quarter. JPMorgan Chase & Co. now owns 411,459 shares of the company’s stock valued at $48,820,000 after buying an additional 76,601 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in shares of Lithia Motors by 141.9% during the fourth quarter. Wasatch Advisors Inc. now owns 129,037 shares of the company’s stock valued at $14,657,000 after buying an additional 75,686 shares during the period.

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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.

Earnings History for Lithia Motors (NYSE:LAD)

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