Lithia Motors (NYSE:LAD) Hits New 52-Week Low – Here’s What Happened
by Danessa Lincoln · The Markets DailyLithia Motors, Inc. (NYSE:LAD – Get Free Report)’s stock price reached a new 52-week low on Monday . The stock traded as low as $251.00 and last traded at $251.5650, with a volume of 122795 shares trading hands. The stock had previously closed at $254.70.
Analyst Upgrades and Downgrades
LAD has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 price target on the stock. in a research report on Friday, February 20th. Wells Fargo & Company cut their target price on Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lithia Motors in a research note on Thursday, January 22nd. Citigroup lowered their price target on Lithia Motors from $399.00 to $366.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Evercore lifted their price target on shares of Lithia Motors from $440.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $382.33.
Check Out Our Latest Stock Analysis on Lithia Motors
Lithia Motors Trading Down 0.8%
The company has a 50 day moving average of $308.23 and a 200-day moving average of $317.34. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 0.58 and a beta of 1.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17.
Lithia Motors (NYSE:LAD – Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $6.74 earnings per share for the quarter, missing the consensus estimate of $8.09 by ($1.35). The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.79 earnings per share. On average, research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.
Lithia Motors Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Lithia Motors’s dividend payout ratio (DPR) is currently 6.85%.
Institutional Trading of Lithia Motors
Large investors have recently modified their holdings of the stock. Abrams Capital Management L.P. lifted its stake in Lithia Motors by 1.9% in the third quarter. Abrams Capital Management L.P. now owns 2,490,534 shares of the company’s stock worth $787,009,000 after acquiring an additional 45,856 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Lithia Motors by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,346,783 shares of the company’s stock worth $447,583,000 after purchasing an additional 6,113 shares in the last quarter. River Road Asset Management LLC increased its holdings in Lithia Motors by 33.6% in the fourth quarter. River Road Asset Management LLC now owns 742,677 shares of the company’s stock valued at $246,814,000 after buying an additional 186,628 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Lithia Motors by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 612,377 shares of the company’s stock valued at $206,873,000 after buying an additional 33,966 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Lithia Motors by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 479,537 shares of the company’s stock worth $162,022,000 after acquiring an additional 11,859 shares in the last quarter.
About Lithia Motors
Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.
The company’s core business activities include vehicle sales, financing, insurance, parts and service.