Lithia Motors, Inc. (NYSE:LAD) Insider Sells $92,652.12 in Stock

Lithia Motors, Inc. (NYSE:LAD) insider Gary M. Glandon sold 242 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $382.86, for a total transaction of $92,652.12. Following the transaction, the insider now owns 1,729 shares in the company, valued at $661,964.94. The trade was a 12.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lithia Motors Price Performance

NYSE:LAD traded up $8.45 during mid-day trading on Friday, hitting $390.95. 234,922 shares of the stock traded hands, compared to its average volume of 259,986. The business’s 50-day moving average price is $328.35 and its 200 day moving average price is $288.50. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $391.14. The company has a market cap of $10.41 billion, a PE ratio of 13.27 and a beta of 1.63.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.46 billion. During the same quarter last year, the company earned $9.25 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts expect that Lithia Motors, Inc. will post 29.09 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.53 per share. The ex-dividend date was Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.54%. Lithia Motors’s payout ratio is presently 7.24%.

Hedge Funds Weigh In On Lithia Motors

Institutional investors have recently made changes to their positions in the stock. Versor Investments LP increased its stake in Lithia Motors by 7.0% in the third quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after acquiring an additional 56 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Lithia Motors in the 2nd quarter worth approximately $607,000. Comerica Bank boosted its stake in Lithia Motors by 89.0% in the first quarter. Comerica Bank now owns 29,473 shares of the company’s stock worth $8,867,000 after buying an additional 13,875 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Lithia Motors by 22.9% during the second quarter. Westwood Holdings Group Inc. now owns 70,405 shares of the company’s stock valued at $17,774,000 after acquiring an additional 13,126 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Lithia Motors by 118.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock worth $40,609,000 after acquiring an additional 87,362 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Lithia Motors from $375.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim lifted their price target on shares of Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $225.00 to $310.00 in a report on Wednesday, September 25th. StockNews.com cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Citigroup boosted their price objective on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $357.60.

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.