Jupiter Asset Management Ltd. Takes Position in Lithia Motors, Inc. $LAD

Jupiter Asset Management Ltd. purchased a new stake in shares of Lithia Motors, Inc. (NYSE:LAD) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,734 shares of the company’s stock, valued at approximately $548,000.

A number of other large investors have also recently added to or reduced their stakes in LAD. Abrams Capital Management L.P. increased its stake in Lithia Motors by 1.9% during the third quarter. Abrams Capital Management L.P. now owns 2,490,534 shares of the company’s stock worth $787,009,000 after acquiring an additional 45,856 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Lithia Motors by 5.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 612,377 shares of the company’s stock valued at $206,873,000 after purchasing an additional 33,966 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lithia Motors by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 479,537 shares of the company’s stock worth $162,022,000 after purchasing an additional 11,859 shares during the period. Norges Bank acquired a new stake in shares of Lithia Motors during the 2nd quarter worth about $148,540,000. Finally, River Road Asset Management LLC raised its holdings in Lithia Motors by 26.4% in the 2nd quarter. River Road Asset Management LLC now owns 412,516 shares of the company’s stock valued at $139,356,000 after buying an additional 86,121 shares during the period.

Lithia Motors Trading Down 1.2%

NYSE LAD opened at $293.71 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 9.14 and a beta of 1.20. The firm has a 50 day simple moving average of $329.25 and a 200-day simple moving average of $321.54. Lithia Motors, Inc. has a one year low of $262.10 and a one year high of $363.78.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing the consensus estimate of $8.09 by ($1.35). Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the company earned $7.79 earnings per share. Lithia Motors’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.55 dividend. The ex-dividend date is Friday, March 6th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Lithia Motors’s dividend payout ratio (DPR) is 6.85%.

Insider Buying and Selling

In other Lithia Motors news, Director Congdon Stacy Loretz sold 75 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Lithia Motors from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Citigroup lifted their target price on shares of Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Evercore upped their price target on Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $386.00.

Lithia Motors Company Profile

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.