Lithia Motors, Inc. (NYSE:LAD) CEO Bryan B. Deboer sold 11,514 shares of Lithia Motors stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $96.76, for a total value of $1,114,094.64. Following the completion of the sale, the chief executive officer now owns 102,353 shares in the company, valued at $9,903,676.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Lithia Motors, Inc. (NYSE:LAD) traded down 8.67% during mid-day trading on Friday, hitting $88.57. The stock had a trading volume of 772,965 shares. The company has a 50-day moving average price of $92.01 and a 200 day moving average price of $94.44. The company has a market cap of $2.22 billion, a P/E ratio of 10.82 and a beta of 1.65. Lithia Motors, Inc. has a 1-year low of $68.70 and a 1-year high of $105.32.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, April 19th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. Lithia Motors had a net margin of 2.32% and a return on equity of 21.91%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the firm posted $1.55 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Lithia Motors, Inc. will post $8.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, May 12th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, May 10th. Lithia Motors’s dividend payout ratio is presently 13.19%.
Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Lithia Motors during the fourth quarter worth approximately $14,886,000. State Board of Administration of Florida Retirement System raised its position in shares of Lithia Motors by 33.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,518 shares of the company’s stock worth $1,503,000 after buying an additional 3,926 shares during the last quarter. Comerica Bank raised its position in shares of Lithia Motors by 2.2% in the fourth quarter. Comerica Bank now owns 51,027 shares of the company’s stock worth $5,170,000 after buying an additional 1,096 shares during the last quarter. State Street Corp raised its position in shares of Lithia Motors by 0.3% in the fourth quarter. State Street Corp now owns 580,231 shares of the company’s stock worth $56,188,000 after buying an additional 1,579 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Lithia Motors during the fourth quarter worth about $2,221,000. 99.15% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on LAD. Bank of America Corporation cut Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective for the company. in a report on Friday. Seaport Global Securities began coverage on Lithia Motors in a research note on Wednesday. They issued a “neutral” rating for the company. Jefferies Group LLC set a $115.00 target price on Lithia Motors and gave the company a “buy” rating in a research note on Thursday, March 16th. Zacks Investment Research downgraded Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Finally, Morgan Stanley lowered their price target on Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $105.83.
About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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