Craig Hallum reiterated their buy rating on shares of Lithia Motors (NYSE:LAD) in a report published on Thursday, The Fly reports. The firm currently has a $125.00 price target on the stock, up from their prior price target of $103.00.
Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Lithia Motors from a c+ rating to a b- rating in a research report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Lithia Motors from a hold rating to a buy rating and set a $95.00 target price on the stock in a research report on Tuesday, January 15th. Seaport Global Securities started coverage on shares of Lithia Motors in a research report on Wednesday, February 13th. They set a buy rating and a $110.00 target price on the stock. ValuEngine upgraded shares of Lithia Motors from a sell rating to a hold rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Lithia Motors in a research report on Tuesday, February 19th. They set an overweight rating and a $112.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $114.13.
Shares of Lithia Motors stock opened at $112.62 on Thursday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.15 and a beta of 1.19. Lithia Motors has a 52 week low of $67.90 and a 52 week high of $112.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.25 and a current ratio of 1.17.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. Lithia Motors’s dividend payout ratio (DPR) is currently 11.62%.
In related news, Director Susan O. Cain sold 1,462 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $87.15, for a total transaction of $127,413.30. Following the completion of the sale, the director now directly owns 10,849 shares of the company’s stock, valued at $945,490.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bryan B. Deboer sold 3,835 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $90.00, for a total value of $345,150.00. Following the sale, the chief executive officer now directly owns 153,285 shares of the company’s stock, valued at $13,795,650. The disclosure for this sale can be found here. 5.21% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its holdings in Lithia Motors by 847.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,155 shares of the company’s stock valued at $478,000 after acquiring an additional 4,611 shares during the period. Ellis Investment Partners LLC acquired a new stake in Lithia Motors in the first quarter valued at $30,000. Oppenheimer Asset Management Inc. lifted its holdings in Lithia Motors by 13.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,799 shares of the company’s stock valued at $631,000 after acquiring an additional 783 shares during the period. Versant Capital Management Inc lifted its holdings in Lithia Motors by 100.5% in the first quarter. Versant Capital Management Inc now owns 393 shares of the company’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Finally, Brinker Capital Inc. lifted its holdings in Lithia Motors by 25.5% in the first quarter. Brinker Capital Inc. now owns 7,827 shares of the company’s stock valued at $726,000 after acquiring an additional 1,592 shares during the period.
About Lithia Motors
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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