Lithia Motors, Inc. (NYSE:LAD) Receives $321.50 Average PT from Analysts (2024)

Posted by ABMN Staff on Sep 1st, 2024

Lithia Motors, Inc. (NYSE:LAD – Get Free Report) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $321.50.

LAD has been the subject of several research reports. StockNews.com downgraded Lithia Motors from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. The Goldman Sachs Group boosted their target price on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Guggenheim raised Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 target price for the company in a report on Friday, August 9th. Bank of America boosted their target price on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company boosted their target price on Lithia Motors from $266.00 to $302.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd.

Check Out Our Latest Report on Lithia Motors

Lithia Motors Trading Down 1.0 %

NYSE:LAD opened at $301.08 on Thursday. The stock has a 50-day simple moving average of $270.44 and a 200-day simple moving average of $272.24. The stock has a market cap of $8.25 billion, a P/E ratio of 8.89, a P/E/G ratio of 3.59 and a beta of 1.63. Lithia Motors has a 1 year low of $231.36 and a 1 year high of $331.96. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.28 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.09 by $0.78. The business had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Lithia Motors had a return on equity of 13.81% and a net margin of 2.52%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.91 EPS. As a group, analysts anticipate that Lithia Motors will post 27.62 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s payout ratio is 6.26%.

Insiders Place Their Bets

In related news, Director Sidney B. Deboer sold 11,938 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now owns 46,129 shares in the company, valued at approximately $13,417,080.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Shauna Mcintyre sold 306 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the sale, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sidney B. Deboer sold 11,938 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the sale, the director now owns 46,129 shares in the company, valued at approximately $13,417,080.94. The disclosure for this sale can be found here. 1.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently modified their holdings of LAD. International Assets Investment Management LLC purchased a new position in Lithia Motors during the fourth quarter worth $6,072,000. California Public Employees Retirement System increased its position in Lithia Motors by 15.9% during the fourth quarter. California Public Employees Retirement System now owns 47,207 shares of the company’s stock worth $15,544,000 after buying an additional 6,485 shares in the last quarter. GAMMA Investing LLC purchased a new position in Lithia Motors during the fourth quarter worth $49,000. Truist Financial Corp increased its position in Lithia Motors by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,702 shares of the company’s stock worth $5,500,000 after buying an additional 270 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Lithia Motors by 148.1% during the fourth quarter. Van ECK Associates Corp now owns 10,604 shares of the company’s stock worth $3,492,000 after buying an additional 6,330 shares in the last quarter.

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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