Lithia Motors, Inc. $LAD Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Lithia Motors, Inc. (NYSE:LAD) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,250 shares of the company’s stock after selling 1,325 shares during the quarter. Rhumbline Advisers’ holdings in Lithia Motors were worth $25,759,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. raised its holdings in Lithia Motors by 114.6% in the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the period. Hantz Financial Services Inc. increased its position in shares of Lithia Motors by 1,383.3% in the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after acquiring an additional 83 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Lithia Motors by 106.2% in the second quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after acquiring an additional 69 shares in the last quarter. eCIO Inc. purchased a new position in shares of Lithia Motors in the 1st quarter valued at $55,000. Finally, CWM LLC lifted its holdings in shares of Lithia Motors by 30.1% during the 1st quarter. CWM LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 49 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LAD shares. Jefferies Financial Group started coverage on Lithia Motors in a report on Thursday, September 4th. They issued a “buy” rating and a $400.00 price target for the company. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Lithia Motors from $320.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Benchmark restated a “buy” rating on shares of Lithia Motors in a report on Thursday, October 23rd. Finally, Evercore ISI increased their price objective on shares of Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $389.10.

Lithia Motors Trading Up 0.5%

Shares of LAD opened at $318.94 on Thursday. Lithia Motors, Inc. has a one year low of $262.10 and a one year high of $405.14. The stock has a 50-day moving average price of $310.53 and a 200 day moving average price of $318.62. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21. The company has a market capitalization of $7.73 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.67 and a beta of 1.29.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.97. The company had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.38 billion. Lithia Motors had a return on equity of 13.42% and a net margin of 2.39%.Lithia Motors’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.21 EPS. Sell-side analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, November 7th. Lithia Motors’s dividend payout ratio is 6.37%.

Lithia Motors announced that its board has authorized a stock buyback program on Tuesday, August 26th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.