Lithia Motors (NYSE:LAD – Get Free Report) issued its earnings results on Wednesday. The company reported $10.03 EPS for the quarter, topping the consensus estimate of $8.73 by $1.30, Zacks reports. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. During the same period in the prior year, the business earned $10.24 EPS. The company’s revenue was up 2.2% compared to the same quarter last year.
Lithia Motors Stock Up 14.0%
NYSE:LAD traded up $50.33 during mid-day trading on Wednesday, hitting $408.64. 218,791 shares of the company’s stock were exchanged, compared to its average volume of 307,452. The company has a market cap of $9.32 billion, a PE ratio of 14.51, a P/E/G ratio of 0.81 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24. Lithia Motors has a one year low of $239.78 and a one year high of $413.67. The business has a fifty day moving average price of $305.81 and a 200 day moving average price of $294.24.
Analysts Set New Price Targets
A number of brokerages have issued reports on LAD. Wall Street Zen lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Zacks Research raised shares of Lithia Motors from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Wells Fargo & Company increased their target price on shares of Lithia Motors from $305.00 to $306.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. JPMorgan Chase & Co. raised their target price on Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group boosted their price target on Lithia Motors from $348.00 to $370.00 and gave the company a “buy” rating in a report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $380.33.
Lithia Motors announced that its board has approved a stock repurchase program on Tuesday, May 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, Director Shauna Mcintyre sold 245 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $294.64, for a total value of $72,186.80. Following the sale, the director owned 1,846 shares in the company, valued at $543,905.44. This represents a 11.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard J. Bailey, Jr. sold 297 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total value of $83,329.29. Following the completion of the sale, the director owned 760 shares in the company, valued at $213,233.20. The trade was a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 782 shares of company stock valued at $229,572 in the last ninety days. Insiders own 1.08% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of Lithia Motors by 26.8% during the fourth quarter. Parallel Advisors LLC now owns 156 shares of the company’s stock valued at $52,000 after purchasing an additional 33 shares in the last quarter. Vident Advisory LLC increased its holdings in Lithia Motors by 4.6% in the 2nd quarter. Vident Advisory LLC now owns 842 shares of the company’s stock worth $285,000 after buying an additional 37 shares in the last quarter. Occudo Quantitative Strategies LP raised its position in Lithia Motors by 0.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 4,616 shares of the company’s stock worth $1,534,000 after buying an additional 37 shares during the last quarter. Blair William & Co. IL lifted its stake in Lithia Motors by 7.2% during the 4th quarter. Blair William & Co. IL now owns 716 shares of the company’s stock valued at $238,000 after acquiring an additional 48 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Lithia Motors by 3.2% during the 4th quarter. Captrust Financial Advisors now owns 1,582 shares of the company’s stock valued at $526,000 after acquiring an additional 49 shares during the period.
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.
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