Lithia Motors (NYSE:LAD) had its price objective lifted by Morgan Stanley from $116.00 to $126.00 in a note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 16.17% from the stock’s current price.
Several other equities analysts have also issued reports on LAD. Zacks Investment Research raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Bank of America raised Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price target on the stock in a research note on Monday, January 8th. Buckingham Research dropped their price target on Lithia Motors from $137.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Stephens reissued a “buy” rating on shares of Lithia Motors in a research note on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $129.29.
Shares of Lithia Motors (NYSE LAD) traded up $2.06 on Wednesday, reaching $108.46. The company’s stock had a trading volume of 44,993 shares, compared to its average volume of 256,518. 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 0.95, a quick ratio of 0.28 and a current ratio of 1.21. The firm has a market capitalization of $2,681.39, a price-to-earnings ratio of 11.09, a PEG ratio of 0.52 and a beta of 1.78.
In other news, Director Kenneth E. Roberts sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the transaction, the director now directly owns 110,064 shares of the company’s stock, valued at $13,647,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.85% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Lithia Motors by 1.6% during the fourth quarter. BlackRock Inc. now owns 2,956,067 shares of the company’s stock worth $335,780,000 after purchasing an additional 45,784 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Lithia Motors by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 977,749 shares of the company’s stock worth $117,631,000 after purchasing an additional 42,944 shares during the period. Park West Asset Management LLC raised its position in shares of Lithia Motors by 1.6% during the fourth quarter. Park West Asset Management LLC now owns 782,165 shares of the company’s stock worth $88,846,000 after purchasing an additional 12,034 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Lithia Motors by 15.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 626,421 shares of the company’s stock worth $71,155,000 after purchasing an additional 82,360 shares during the period. Finally, Boston Partners raised its position in shares of Lithia Motors by 7.5% during the fourth quarter. Boston Partners now owns 586,891 shares of the company’s stock worth $66,665,000 after purchasing an additional 41,190 shares during the period.
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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