Key Points
- Director Shauna Mcintyre sold 165 shares of Lithia Motors on June 10 at an average price of $305.64, totaling about $50,430.60. After the sale, she still owned 1,681 shares worth roughly $513,780.84.
- Lithia Motors recently reported better-than-expected quarterly results, with EPS of $7.34 versus the $7.06 consensus and revenue of $9.27 billion, slightly above estimates. Revenue was up 1.0% year over year.
- The company also boosted its dividend and authorized buybacks, raising the quarterly payout to $0.57 per share and approving a $500 million share repurchase program. Analysts currently rate the stock a “Moderate Buy” with an average price target of $368.11.
Lithia Motors, Inc. (NYSE:LAD - Get Free Report) Director Shauna Mcintyre sold 165 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total value of $50,430.60. Following the completion of the sale, the director directly owned 1,681 shares of the company's stock, valued at approximately $513,780.84. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shauna Mcintyre also recently made the following trade(s):
- On Monday, May 11th, Shauna Mcintyre sold 245 shares of Lithia Motors stock. The stock was sold at an average price of $294.64, for a total value of $72,186.80.
Lithia Motors Stock Performance
Shares of Lithia Motors stock opened at $312.43 on Friday. The stock has a market cap of $7.13 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.67 and a beta of 1.26. Lithia Motors, Inc. has a 12 month low of $239.78 and a 12 month high of $360.55. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $279.81 and a 200-day simple moving average of $298.75.
Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.06 by $0.28. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.The firm had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter last year, the firm earned $7.66 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.37 EPS for the current fiscal year.
Lithia Motors announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Lithia Motors Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.57 dividend. This is an increase from Lithia Motors's previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 8th. Lithia Motors's payout ratio is presently 8.01%.
Wall Street Analyst Weigh In
A number of brokerages have commented on LAD. Bank of America reduced their price objective on Lithia Motors from $335.00 to $320.00 in a research report on Monday, April 13th. Wells Fargo & Company increased their price objective on shares of Lithia Motors from $293.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. UBS Group initiated coverage on shares of Lithia Motors in a research note on Wednesday, May 27th. They issued a "buy" rating and a $348.00 price objective for the company. Wall Street Zen raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Finally, Barclays lowered their target price on shares of Lithia Motors from $380.00 to $370.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Lithia Motors presently has a consensus rating of "Moderate Buy" and an average price target of $368.11.
Check Out Our Latest Stock Analysis on LAD
Hedge Funds Weigh In On Lithia Motors
Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Lithia Motors by 1,062.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 11,070 shares of the company's stock worth $3,679,000 after buying an additional 10,118 shares in the last quarter. Abrams Capital Management L.P. boosted its holdings in shares of Lithia Motors by 1.9% in the 3rd 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 in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Lithia Motors in the 4th quarter worth approximately $58,409,000. Tabor Asset Management LP acquired a new position in shares of Lithia Motors in the 3rd quarter worth approximately $1,722,000. Finally, Natixis Advisors LLC boosted its holdings in shares of Lithia Motors by 12.9% in the 3rd quarter. Natixis Advisors LLC now owns 142,276 shares of the company's stock worth $44,959,000 after acquiring an additional 16,226 shares in the last quarter.
About Lithia Motors
(
Get Free Report)
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.
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