Lithia Motors (NYSE:LAD) Shares Gap Down to $264.49

Lithia Motors, Inc. (NYSE:LAD) shares gapped down before the market opened on Wednesday . The stock had previously closed at $264.49, but opened at $250.00. Lithia Motors shares last traded at $256.39, with a volume of 117,601 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on LAD shares. StockNews.com downgraded Lithia Motors from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Stephens reaffirmed an “overweight” rating and set a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. The Goldman Sachs Group lifted their price target on Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Evercore ISI started coverage on Lithia Motors in a report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 price target for the company. Finally, Morgan Stanley lifted their price target on Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Lithia Motors currently has a consensus rating of “Hold” and an average target price of $334.60.

Lithia Motors Price Performance

The company has a current ratio of 1.41, a quick ratio of 0.45 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $6.97 billion, a PE ratio of 6.97, a P/E/G ratio of 2.21 and a beta of 1.58. The company has a fifty day moving average price of $285.95 and a two-hundred day moving average price of $284.10.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share for the quarter, beating the consensus estimate of $8.11 by $0.13. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.95 billion. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $9.05 EPS. Sell-side analysts forecast that Lithia Motors, Inc. will post 34.78 earnings per share for the current year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, March 7th. Lithia Motors’s dividend payout ratio is presently 5.51%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $297.84, for a total transaction of $40,208.40. Following the completion of the sale, the director now directly owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lithia Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mariner LLC increased its position in Lithia Motors by 4.1% during the 3rd quarter. Mariner LLC now owns 4,401 shares of the company’s stock worth $1,300,000 after purchasing an additional 174 shares during the period. American Century Companies Inc. increased its position in Lithia Motors by 33.7% during the 3rd quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock worth $10,385,000 after purchasing an additional 8,862 shares during the period. Citigroup Inc. grew its holdings in shares of Lithia Motors by 95.6% in the 3rd quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock worth $3,736,000 after acquiring an additional 6,181 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Lithia Motors by 93.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 9,412 shares of the company’s stock worth $2,780,000 after acquiring an additional 4,541 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Lithia Motors in the 3rd quarter worth approximately $4,608,000.

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.