Eqis Capital Management Inc. grew its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,339 shares of the company’s stock after purchasing an additional 43 shares during the period. Eqis Capital Management Inc.’s holdings in Lithia Motors were worth $533,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in LAD. FMR LLC lifted its stake in Lithia Motors by 92.1% during the second quarter. FMR LLC now owns 484,654 shares of the company’s stock worth $73,342,000 after purchasing an additional 232,319 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new position in Lithia Motors during the second quarter worth $31,328,000. Victory Capital Management Inc. lifted its stake in Lithia Motors by 1,310.3% during the third quarter. Victory Capital Management Inc. now owns 207,383 shares of the company’s stock worth $47,271,000 after purchasing an additional 192,678 shares in the last quarter. Impala Asset Management LLC acquired a new position in Lithia Motors during the second quarter worth $26,827,000. Finally, Wedge Capital Management L L P NC acquired a new position in Lithia Motors during the third quarter worth $24,979,000.
LAD has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Lithia Motors from $280.00 to $330.00 in a research note on Friday, October 2nd. Bank of America increased their price objective on Lithia Motors from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Tuesday, November 17th. Guggenheim increased their price objective on Lithia Motors from $233.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Seaport Global Securities started coverage on Lithia Motors in a research note on Monday, October 19th. They issued a “buy” rating and a $305.00 price objective on the stock. Finally, Benchmark increased their price objective on Lithia Motors from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Lithia Motors has an average rating of “Buy” and a consensus price target of $281.44.
NYSE:LAD opened at $281.64 on Friday. The firm has a market capitalization of $7.47 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.68 and a beta of 1.87. The business’s fifty day moving average price is $261.86 and its 200 day moving average price is $203.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 0.28. Lithia Motors, Inc. has a 12 month low of $55.74 and a 12 month high of $288.56.
Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 21st. The company reported $6.89 EPS for the quarter, beating the consensus estimate of $6.21 by $0.68. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.58 billion. Lithia Motors had a return on equity of 23.52% and a net margin of 2.82%. Lithia Motors’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.39 earnings per share. As a group, equities analysts anticipate that Lithia Motors, Inc. will post 17.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, November 12th. Lithia Motors’s dividend payout ratio (DPR) is presently 10.54%.
Lithia Motors Company Profile
Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. 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 vehicle body and parts.
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