Lithia Motors (NYSE:LAD – Get Free Report) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.
Other analysts have also issued reports about the company. Zacks Research raised Lithia Motors from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 23rd. Barclays dropped their target price on Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen lowered Lithia Motors from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Citigroup lifted their target price on Lithia Motors from $326.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Bank of America dropped their target price on Lithia Motors from $335.00 to $320.00 in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.30.
Read Our Latest Research Report on LAD
Lithia Motors Trading Up 1.2%
Lithia Motors (NYSE:LAD – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.28. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $7.66 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Lithia Motors will post 34.26 earnings per share for the current fiscal year.
Lithia Motors announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Activity
In related news, Director Shauna Mcintyre sold 245 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $294.64, for a total value of $72,186.80. Following the completion of the sale, the director directly owned 1,846 shares of the company’s stock, valued at $543,905.44. The trade was a 11.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Bailey, Jr. sold 297 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total value of $83,329.29. Following the completion of the sale, the director directly owned 760 shares of the company’s stock, valued at approximately $213,233.20. This represents a 28.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 617 shares of company stock valued at $174,966. 1.08% of the stock is owned by corporate insiders.
Institutional Trading of Lithia Motors
Several hedge funds and other institutional investors have recently bought and sold shares of LAD. Parallel Advisors LLC lifted its stake in Lithia Motors by 26.8% during the fourth quarter. Parallel Advisors LLC now owns 156 shares of the company’s stock worth $52,000 after purchasing an additional 33 shares during the period. Arizona State Retirement System lifted its stake in Lithia Motors by 0.4% during the third quarter. Arizona State Retirement System now owns 7,702 shares of the company’s stock worth $2,434,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC lifted its stake in Lithia Motors by 9.2% during the fourth quarter. GAMMA Investing LLC now owns 403 shares of the company’s stock worth $134,000 after purchasing an additional 34 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in Lithia Motors by 3.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 984 shares of the company’s stock worth $246,000 after purchasing an additional 36 shares during the period. Finally, Vident Advisory LLC lifted its stake in Lithia Motors by 4.6% during the second quarter. Vident Advisory LLC now owns 842 shares of the company’s stock worth $285,000 after purchasing an additional 37 shares during the period.
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.
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