Lithia Motors (NYSE:LAD) Sees Strong Trading Volume on Analyst Upgrade

Shares of Lithia Motors, Inc. (NYSE:LAD - Get Free Report) saw unusually-strong trading volume on Thursday after Wells Fargo & Company raised their price target on the stock from $343.00 to $346.00. Wells Fargo & Company currently has an equal weight rating on the stock. Approximately 278,574 shares traded hands during trading, an increase of 11% from the previous session's volume of 251,988 shares.The stock last traded at $358.31 and had previously closed at $362.83.

Other analysts also recently issued reports about the company. Guggenheim lifted their price objective on Lithia Motors from $380.00 to $418.00 and gave the company a "buy" rating in a report on Thursday, November 21st. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Lithia Motors from $375.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Morgan Stanley raised Lithia Motors from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $225.00 to $310.00 in a research report on Wednesday, September 25th. Finally, Stephens boosted their price target on Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Lithia Motors has a consensus rating of "Moderate Buy" and an average target price of $361.27.

Insider Activity at Lithia Motors

In other Lithia Motors news, CEO Bryan B. Deboer sold 15,846 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $386.72, for a total transaction of $6,127,965.12. Following the sale, the chief executive officer now owns 207,924 shares of the company's stock, valued at approximately $80,408,369.28. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Holzshu sold 8,520 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the completion of the transaction, the chief operating officer now directly owns 32,054 shares of the company's stock, valued at approximately $10,744,821.34. This represents a 21.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,290 shares of company stock valued at $17,959,596 in the last ninety days. Corporate insiders own 1.79% of the company's stock.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Lithia Motors during the 3rd quarter valued at about $35,000. UMB Bank n.a. increased its holdings in Lithia Motors by 69.9% in the 4th quarter. UMB Bank n.a. now owns 124 shares of the company's stock worth $44,000 after buying an additional 51 shares during the period. GAMMA Investing LLC raised its position in Lithia Motors by 30.5% during the 4th quarter. GAMMA Investing LLC now owns 167 shares of the company's stock worth $60,000 after buying an additional 39 shares during the last quarter. Blue Trust Inc. raised its position in Lithia Motors by 49.3% during the 3rd quarter. Blue Trust Inc. now owns 200 shares of the company's stock worth $64,000 after buying an additional 66 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Lithia Motors by 23.9% during the 3rd quarter. Signaturefd LLC now owns 249 shares of the company's stock valued at $79,000 after acquiring an additional 48 shares during the period.

Lithia Motors Price Performance

The firm has a market capitalization of $9.36 billion, a PE ratio of 11.99, a P/E/G ratio of 4.77 and a beta of 1.67. The firm's fifty day moving average price is $368.96 and its 200 day moving average price is $318.73. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating the consensus estimate of $7.60 by $0.61. The company had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $9.25 earnings per share. As a group, equities analysts forecast that Lithia Motors, Inc. will post 29.42 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, November 8th. Lithia Motors's payout ratio is presently 7.24%.

About Lithia Motors

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.