Lithia Motors, Inc. (NYSE:LAD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Lithia Motors, Inc. (NYSE:LAD) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $390.70.

A number of analysts have recently commented on the company. Citigroup boosted their price target on Lithia Motors from $385.00 to $399.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price objective on Lithia Motors from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Evercore ISI increased their target price on Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Finally, Barclays dropped their price target on shares of Lithia Motors from $410.00 to $390.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st.

Insider Activity

In other news, Director Congdon Stacy Loretz sold 75 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $360.00, for a total transaction of $27,000.00. Following the sale, the director owned 1,810 shares in the company, valued at $651,600. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Lithia Motors in the 2nd quarter worth about $148,540,000. Hennessy Advisors Inc. purchased a new stake in shares of Lithia Motors during the 3rd quarter valued at about $39,342,000. Hook Mill Capital Partners LP bought a new stake in shares of Lithia Motors in the third quarter worth approximately $29,130,000. River Road Asset Management LLC grew its stake in shares of Lithia Motors by 26.4% in the second quarter. River Road Asset Management LLC now owns 412,516 shares of the company’s stock worth $139,356,000 after acquiring an additional 86,121 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Lithia Motors by 57.5% during the second quarter. Bank of America Corp DE now owns 197,417 shares of the company’s stock valued at $66,691,000 after purchasing an additional 72,061 shares during the last quarter.

Lithia Motors Trading Up 3.1%

Shares of NYSE LAD opened at $339.54 on Thursday. Lithia Motors has a 1 year low of $262.10 and a 1 year high of $405.14. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.21 and a quick ratio of 0.30. The firm has a 50-day moving average of $333.36 and a 200 day moving average of $320.32. The stock has a market cap of $8.23 billion, a P/E ratio of 9.83 and a beta of 1.20.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.