Lithia Motors, Inc. (NYSE:LAD) Director Sells $3,472,286.68 in Stock (2024)

Lithia Motors, Inc. (NYSE:LAD – Get Free Report) Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares in the company, valued at approximately $13,417,080.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Lithia Motors Trading Up 5.0 %

Shares of LAD stock opened at $297.90 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.28 and a current ratio of 1.19. The firm has a fifty day moving average of $265.56 and a 200-day moving average of $272.32. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 3.59 and a beta of 1.63. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96.

Lithia Motors (NYSE:LAD – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. Lithia Motors had a return on equity of 13.81% and a net margin of 2.52%. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the company earned $10.91 EPS. Lithia Motors’s revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Lithia Motors, Inc. will post 27.62 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.53 per share. The ex-dividend date was Friday, August 9th. This represents a $2.12 annualized dividend and a yield of 0.71%. Lithia Motors’s dividend payout ratio is 6.26%.

Institutional Trading of Lithia Motors

Several hedge funds have recently modified their holdings of LAD. Vanguard Group Inc. increased its holdings in Lithia Motors by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock valued at $929,679,000 after purchasing an additional 15,962 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Lithia Motors by 14.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock worth $429,390,000 after purchasing an additional 217,867 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Lithia Motors by 25.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock valued at $256,621,000 after purchasing an additional 203,543 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Lithia Motors by 7.2% in the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after purchasing an additional 48,938 shares in the last quarter. Finally, Norges Bank bought a new position in Lithia Motors in the 4th quarter worth approximately $123,976,000.

Analyst Upgrades and Downgrades

LAD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Lithia Motors from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company lifted their price target on Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Bank of America increased their price objective on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Guggenheim upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $321.50.

Check Out Our Latest Stock Analysis on LAD

About Lithia Motors

(Get Free Report)

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.

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