Lithia Motors (NYSE:LAD) Upgraded to Equal Weight by Morgan Stanley

Morgan Stanley upgraded shares of Lithia Motors (NYSE:LAD) from an underweight rating to an equal weight rating in a research note released on Wednesday morning, Benzinga reports. The firm currently has $310.00 price objective on the stock, up from their prior price objective of $225.00.

Several other research firms have also commented on LAD. Wells Fargo & Company raised their price target on Lithia Motors from $266.00 to $302.00 and gave the stock an equal weight rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on Lithia Motors from $300.00 to $335.00 and gave the company a neutral rating in a report on Friday, August 2nd. StockNews.com lowered shares of Lithia Motors from a hold rating to a sell rating in a research note on Tuesday, August 13th. Bank of America increased their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Finally, Stephens began coverage on shares of Lithia Motors in a report on Thursday, September 12th. They issued an overweight rating and a $360.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $338.00.

Lithia Motors Trading Up 1.8 %

NYSE LAD opened at $320.83 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30. The stock has a market capitalization of $8.79 billion, a P/E ratio of 9.47, a PEG ratio of 0.30 and a beta of 1.64. The firm’s 50-day moving average is $284.70 and its two-hundred day moving average is $272.12. Lithia Motors has a 12 month low of $231.36 and a 12 month high of $331.96.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. The firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. Lithia Motors had a net margin of 2.52% and a return on equity of 13.84%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $10.91 EPS. On average, sell-side analysts anticipate that Lithia Motors will post 28.78 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.53 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.12 annualized dividend and a yield of 0.66%. Lithia Motors’s dividend payout ratio (DPR) is 6.26%.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the sale, the director now directly owns 1,922 shares of the company’s stock, valued at approximately $556,707.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Shauna Mcintyre sold 306 shares of the business’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 completion of the transaction, the director now owns 1,922 shares in the company, valued at $556,707.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of the firm’s 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 completion of the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. The disclosure for this sale can be found here. Insiders sold 23,021 shares of company stock worth $6,534,617 over the last 90 days. 1.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Lithia Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its position in shares of Lithia Motors by 1.3% during the 2nd quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after buying an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock valued at $116,000 after acquiring an additional 52 shares during the last quarter. Blue Trust Inc. boosted its stake in Lithia Motors by 83.6% in the second quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Lithia Motors by 13.3% during the first quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock worth $167,000 after purchasing an additional 65 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Lithia Motors by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,628 shares of the company’s stock worth $663,000 after purchasing an additional 72 shares in the last quarter.

Lithia Motors Company Profile

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.