Lithia Motors (NYSE:LAD) Cut to Sell at StockNews.com (2024)

StockNews.com lowered shares of Lithia Motors (NYSE:LAD - Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Other research analysts have also recently issued research reports about the stock. Bank of America raised their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a buy rating in a report on Monday, July 22nd. Craig Hallum decreased their price target on shares of Lithia Motors from $350.00 to $310.00 and set a buy rating for the company in a report on Thursday, April 25th. Guggenheim raised shares of Lithia Motors from a neutral rating to a buy rating and set a $338.00 price target for the company in a report on Friday. The Goldman Sachs Group increased their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Lithia Motors from $266.00 to $302.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Lithia Motors presently has an average rating of Hold and a consensus price target of $321.50.

Read Our Latest Research Report on Lithia Motors

Lithia Motors Stock Up 2.8 %

NYSE:LAD traded up $7.88 during midday trading on Tuesday, reaching $284.32. 205,716 shares of the stock traded hands, compared to its average volume of 250,887. Lithia Motors has a 12-month low of $231.36 and a 12-month high of $331.96. The business has a 50-day moving average of $260.92 and a two-hundred day moving average of $272.67. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.28 and a current ratio of 1.19. The stock has a market capitalization of $7.79 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 3.59 and a beta of 1.63.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.09 by $0.78. The business had revenue of $9.23 billion during the quarter, compared to analysts' expectations of $9.29 billion. Lithia Motors had a net margin of 2.52% and a return on equity of 13.81%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $10.91 earnings per share. On average, equities analysts forecast that Lithia Motors will post 27.62 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.12 annualized dividend and a yield of 0.75%. Lithia Motors's dividend payout ratio is presently 6.26%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 306 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the sale, the director now owns 1,922 shares in the company, valued at $556,707.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.79% of the stock is owned by company insiders.

Institutional Trading of Lithia Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Lithia Motors in the fourth quarter valued at about $123,976,000. Cadian Capital Management LP purchased a new position in shares of Lithia Motors in the fourth quarter worth about $105,370,000. Dimensional Fund Advisors LP lifted its stake in shares of Lithia Motors by 25.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company's stock worth $256,621,000 after buying an additional 203,543 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in shares of Lithia Motors by 118.9% in the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company's stock worth $40,609,000 after buying an additional 87,362 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Lithia Motors by 413.6% in the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company's stock worth $21,450,000 after buying an additional 52,458 shares in the last quarter.

About Lithia Motors

(Get Free Report)

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.

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