Lithia Motors (NYSE:LAD) Rating Increased to Neutral at Bank of America

Lithia Motors (NYSE:LAD) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Monday, January 8th, Marketbeat.com reports. The firm presently has a $128.00 price target on the stock. Bank of America’s target price points to a potential upside of 2.83% from the stock’s current price.

LAD has been the subject of a number of other research reports. Zacks Investment Research raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. KeyCorp reissued a “buy” rating and issued a $130.00 price objective on shares of Lithia Motors in a report on Monday, November 13th. Finally, Berenberg Bank began coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price objective for the company. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Lithia Motors presently has a consensus rating of “Buy” and an average target price of $124.00.

Lithia Motors (NYSE:LAD) traded up $1.47 during trading hours on Monday, reaching $124.48. 240,000 shares of the company’s stock were exchanged, compared to its average volume of 253,533. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26. The firm has a market capitalization of $3,106.77, a PE ratio of 15.13, a PEG ratio of 0.64 and a beta of 1.72. Lithia Motors has a 52 week low of $80.88 and a 52 week high of $124.96.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $2.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.19). Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company posted $2.06 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. equities research analysts predict that Lithia Motors will post 8.34 earnings per share for the current year.

In related news, Director Sidney B. Deboer sold 3,051 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $113.25, for a total value of $345,525.75. Following the sale, the director now owns 433 shares of the company’s stock, valued at $49,037.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan O. Cain sold 1,302 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $115.79, for a total transaction of $150,758.58. Following the completion of the sale, the director now directly owns 10,940 shares in the company, valued at approximately $1,266,742.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,718 shares of company stock valued at $1,275,932. 7.85% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its position in shares of Lithia Motors by 35.9% during the third quarter. Parametric Portfolio Associates LLC now owns 126,213 shares of the company’s stock worth $15,185,000 after acquiring an additional 33,369 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Lithia Motors during the third quarter worth approximately $773,000. DF Dent & Co. Inc. grew its position in shares of Lithia Motors by 38.5% during the third quarter. DF Dent & Co. Inc. now owns 9,765 shares of the company’s stock worth $1,175,000 after acquiring an additional 2,714 shares during the last quarter. California Public Employees Retirement System grew its position in Lithia Motors by 5.4% in the 3rd quarter. California Public Employees Retirement System now owns 30,032 shares of the company’s stock valued at $3,613,000 after buying an additional 1,532 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Lithia Motors in the 3rd quarter valued at $507,000.

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Lithia Motors Company Profile

Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.

Analyst Recommendations for Lithia Motors (NYSE:LAD)

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