Rhumbline Advisers cut its holdings in Lithia Motors Inc (NYSE:LAD) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,761 shares of the company’s stock after selling 2,311 shares during the period. Rhumbline Advisers owned approximately 0.25% of Lithia Motors worth $4,880,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in Lithia Motors by 25.4% in the second quarter. BlackRock Inc. now owns 4,027,924 shares of the company’s stock worth $380,921,000 after purchasing an additional 815,830 shares during the last quarter. Abrams Capital Management L.P. bought a new stake in Lithia Motors in the second quarter worth $98,384,000. Dimensional Fund Advisors LP lifted its stake in Lithia Motors by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,032,044 shares of the company’s stock worth $97,602,000 after purchasing an additional 43,537 shares during the last quarter. Boston Partners lifted its stake in Lithia Motors by 1.8% in the second quarter. Boston Partners now owns 772,864 shares of the company’s stock worth $73,090,000 after purchasing an additional 13,594 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Lithia Motors by 23.2% in the third quarter. JPMorgan Chase & Co. now owns 606,370 shares of the company’s stock worth $49,516,000 after purchasing an additional 114,014 shares during the last quarter.
LAD stock opened at $72.23 on Friday. Lithia Motors Inc has a 12-month low of $72.00 and a 12-month high of $127.99. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 0.61 and a beta of 1.35. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.23 and a current ratio of 1.20.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 24th. The company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.30. Lithia Motors had a net margin of 2.56% and a return on equity of 20.75%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.17 billion. During the same quarter in the previous year, the company earned $2.18 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities analysts predict that Lithia Motors Inc will post 9.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Thursday, November 8th. Lithia Motors’s payout ratio is 13.83%.
LAD has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. ValuEngine cut shares of Lithia Motors from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 10th. TheStreet cut shares of Lithia Motors from a “b-” rating to a “c+” rating in a research report on Friday, September 21st. Craig Hallum restated a “buy” rating on shares of Lithia Motors in a research report on Thursday, September 13th. Finally, Buckingham Research set a $106.00 price objective on shares of Lithia Motors and gave the company a “buy” rating in a research report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $103.80.
Lithia Motors Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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