Vanguard Group Inc. boosted its stake in Lithia Motors, Inc. (NYSE:LAD) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,097,189 shares of the company’s stock after acquiring an additional 56,888 shares during the period. Vanguard Group Inc. owned 8.73% of Lithia Motors worth $197,618,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in Lithia Motors by 7.3% in the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after acquiring an additional 75 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after acquiring an additional 105 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock valued at $137,000 after acquiring an additional 146 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Lithia Motors in the first quarter valued at $176,000. Finally, Brighton Jones LLC acquired a new stake in Lithia Motors in the second quarter valued at $201,000. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Lithia Motors, Inc. (NYSE LAD) opened at 114.60 on Tuesday. The firm’s 50 day moving average is $113.77 and its 200-day moving average is $98.86. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $123.50. The firm has a market capitalization of $2.87 billion, a PE ratio of 13.81 and a beta of 1.71.
Lithia Motors (NYSE:LAD) last issued its earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.23 by $0.05. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. Lithia Motors’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $1.96 earnings per share. On average, equities research analysts predict that Lithia Motors, Inc. will post $8.61 earnings per share for the current fiscal year.
Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Lithia Motors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Berenberg Bank assumed coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price target on the stock. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target (up from $119.00) on shares of Lithia Motors in a report on Wednesday, October 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Lithia Motors in a report on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $116.00 price target (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Lithia Motors presently has an average rating of “Hold” and an average price target of $116.00.
In other Lithia Motors news, CEO Bryan B. Deboer sold 20,820 shares of Lithia Motors stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $104.13, for a total transaction of $2,167,986.60. Following the completion of the transaction, the chief executive officer now directly owns 101,004 shares of the company’s stock, valued at $10,517,546.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas R. Becker sold 1,031 shares of Lithia Motors stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $107.10, for a total value of $110,420.10. Following the transaction, the director now directly owns 65,704 shares of the company’s stock, valued at $7,036,898.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,337 shares of company stock valued at $24,430,932. Company insiders own 7.85% of the company’s stock.
Lithia Motors Company Profile
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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