Short Interest in Lithia Motors, Inc. (NYSE:LAD) Drops By 7.1%

Lithia Motors, Inc. (NYSE:LAD) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 2,360,000 shares, a drop of 7.1% from the June 30th total of 2,540,000 shares. Based on an average trading volume of 280,600 shares, the days-to-cover ratio is presently 8.4 days.

Lithia Motors Trading Up 3.6 %

NYSE:LAD traded up $9.64 during trading hours on Wednesday, reaching $276.33. 642,304 shares of the stock were exchanged, compared to its average volume of 242,931. Lithia Motors has a twelve month low of $231.36 and a twelve month high of $331.96. The business has a 50-day moving average of $255.94 and a two-hundred day moving average of $273.58. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 3.21 and a beta of 1.63. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17.

Analysts Set New Price Targets

LAD has been the topic of a number of recent research reports. Guggenheim lowered shares of Lithia Motors from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th. Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. raised Lithia Motors from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $270.00 to $280.00 in a research note on Monday, June 10th. Finally, Bank of America boosted their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $308.40.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds have recently bought and sold shares of LAD. Vanguard Group Inc. boosted its position in Lithia Motors by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock valued at $929,679,000 after buying an additional 15,962 shares during the period. Canada Pension Plan Investment Board increased its holdings in Lithia Motors by 7.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock worth $218,981,000 after purchasing an additional 48,938 shares during the period. Norges Bank acquired a new stake in Lithia Motors in the 4th quarter valued at about $123,976,000. Cadian Capital Management LP purchased a new position in shares of Lithia Motors in the 4th quarter valued at about $105,370,000. Finally, Eventide Asset Management LLC grew its position in shares of Lithia Motors by 8.2% during the fourth quarter. Eventide Asset Management LLC now owns 267,877 shares of the company’s stock worth $88,207,000 after buying an additional 20,363 shares in the last quarter.

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.