State of Alaska Department of Revenue cut its position in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,770 shares of the company’s stock after selling 50 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lithia Motors were worth $863,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in LAD. Exchange Traded Concepts LLC lifted its stake in Lithia Motors by 405.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 172 shares of the company’s stock worth $35,000 after purchasing an additional 138 shares during the last quarter. Fifth Third Bancorp lifted its stake in Lithia Motors by 129.6% in the fourth quarter. Fifth Third Bancorp now owns 186 shares of the company’s stock valued at $38,000 after buying an additional 105 shares during the last quarter. Ronald Blue Trust Inc. lifted its stake in Lithia Motors by 93.5% in the fourth quarter. Ronald Blue Trust Inc. now owns 180 shares of the company’s stock valued at $39,000 after buying an additional 87 shares during the last quarter. Quantbot Technologies LP bought a new stake in Lithia Motors in the second quarter valued at $46,000. Finally, Signaturefd LLC lifted its stake in Lithia Motors by 24.2% in the fourth quarter. Signaturefd LLC now owns 293 shares of the company’s stock valued at $60,000 after buying an additional 57 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on LAD shares. Bank of America raised their target price on Lithia Motors from $350.00 to $430.00 in a research note on Thursday. Guggenheim cut their target price on Lithia Motors from $332.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. Finally, StockNews.com assumed coverage on shares of Lithia Motors in a research note on Thursday, May 18th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.11.
Insiders Place Their Bets
Lithia Motors Price Performance
NYSE:LAD opened at $303.50 on Friday. The business’s 50-day moving average price is $250.19 and its 200 day moving average price is $239.58. The firm has a market cap of $8.36 billion, a P/E ratio of 7.44, a PEG ratio of 2.73 and a beta of 1.44. Lithia Motors, Inc. has a 52-week low of $180.00 and a 52-week high of $310.80. The company has a quick ratio of 0.33, a current ratio of 1.30 and a debt-to-equity ratio of 1.07.
Lithia Motors (NYSE:LAD – Free Report) last released its earnings results on Wednesday, April 19th. The company reported $8.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.79 by ($0.35). The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $7.28 billion. Lithia Motors had a return on equity of 22.34% and a net margin of 3.99%. Lithia Motors’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $11.96 earnings per share. As a group, sell-side analysts predict that Lithia Motors, Inc. will post 33.97 earnings per share for the current fiscal year.
Lithia Motors Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, May 11th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.42. Lithia Motors’s payout ratio is presently 4.90%.
Lithia Motors Profile
Lithia Motors, Inc operates as an automotive retailer. The company operates through Domestic, Import, and Luxury segments. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells body and parts for the new vehicles under the Driveway and GreenCars brand names.
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