Bank of America upgraded shares of Lithia Motors (NYSE:LAD) from an underperform rating to a neutral rating in a research report report published on Monday, Marketbeat.com reports. Bank of America currently has $128.00 price target on the stock.
A number of other equities analysts have also commented on LAD. KeyCorp restated a buy rating and set a $130.00 price objective (up previously from $119.00) on shares of Lithia Motors in a research note on Wednesday, October 4th. Berenberg Bank initiated coverage on Lithia Motors in a research note on Wednesday, October 4th. They set a hold rating and a $126.00 price objective on the stock. Finally, Zacks Investment Research lowered Lithia Motors from a strong-buy rating to a hold rating in a research note on Tuesday, October 10th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $124.00.
Lithia Motors (NYSE LAD) traded up $2.43 during trading on Monday, reaching $123.01. The company’s stock had a trading volume of 159,100 shares, compared to its average volume of 255,225. Lithia Motors has a 12-month low of $80.88 and a 12-month high of $124.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.26 and a current ratio of 1.21. The company has a market cap of $3,090.00, a price-to-earnings ratio of 14.95, a PEG ratio of 0.92 and a beta of 1.72.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $124.00, for a total value of $620,000.00. Following the sale, the director now owns 110,064 shares of the company’s stock, valued at approximately $13,647,936. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sidney B. Deboer sold 3,051 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 433 shares in the company, valued at approximately $49,037.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,718 shares of company stock worth $1,275,932. Corporate insiders own 7.85% of the company’s stock.
Several hedge funds have recently modified their holdings of LAD. D.A. Davidson & CO. boosted its holdings in shares of Lithia Motors by 7.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Lithia Motors by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Lithia Motors in the 3rd quarter valued at $144,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Lithia Motors by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock valued at $170,000 after purchasing an additional 204 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Lithia Motors by 93.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after purchasing an additional 1,032 shares in the last quarter. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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