Lithia Motors (NYSE:LAD) Hits New 1-Year High After Analyst Upgrade

Lithia Motors, Inc. (NYSE:LAD - Get Free Report) hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $375.00 to $405.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lithia Motors traded as high as $348.09 and last traded at $344.22, with a volume of 28126 shares changing hands. The stock had previously closed at $344.08.

LAD has been the subject of a number of other reports. StockNews.com lowered shares of Lithia Motors from a "hold" rating to a "sell" rating in a report on Monday. Stephens boosted their price target on shares of Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Lithia Motors from $299.00 to $343.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Citigroup increased their target price on Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a report on Friday, September 27th. Finally, Guggenheim lifted their price target on Lithia Motors from $350.00 to $380.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Lithia Motors has an average rating of "Hold" and a consensus price target of $353.80.

Insider Activity at Lithia Motors

In related news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the sale, the director now directly owns 35,352 shares of the company's stock, valued at approximately $9,754,677.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Chris Holzshu sold 8,520 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total value 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 $10,744,821.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,235 shares of company stock worth $9,301,973 over the last quarter. 1.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Lithia Motors during the third quarter valued at approximately $35,000. Blue Trust Inc. grew its stake in shares of Lithia Motors by 83.6% in the second quarter. Blue Trust Inc. now owns 134 shares of the company's stock worth $34,000 after acquiring an additional 61 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Lithia Motors by 23.9% during the third quarter. Signaturefd LLC now owns 249 shares of the company's stock valued at $79,000 after acquiring an additional 48 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in shares of Lithia Motors by 12,500.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company's stock worth $64,000 after purchasing an additional 250 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Lithia Motors in the 2nd quarter worth about $80,000.

Lithia Motors Stock Up 1.9 %

The company has a market capitalization of $9.34 billion, a PE ratio of 11.72 and a beta of 1.63. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.18. The company's 50-day moving average is $305.81 and its 200 day moving average is $278.46.

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 analysts' consensus estimates of $7.60 by $0.61. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The firm had revenue of $9.22 billion for the quarter, compared to analysts' expectations of $9.46 billion. During the same quarter in the prior year, the company posted $9.25 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts anticipate that Lithia Motors, Inc. will post 28.88 EPS for the current year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.60%. Lithia Motors's payout ratio is 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.