Lithia Motors (NYSE:LAD) Upgraded to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Lithia Motors (NYSE:LAD) from an underweight rating to an equal weight rating in a research note published on Wednesday morning, Benzinga reports. Morgan Stanley currently has $310.00 price target on the stock, up from their previous price target of $225.00.

A number of other analysts have also weighed in on the company. Guggenheim raised Lithia Motors from a neutral rating to a buy rating and set a $338.00 price objective for the company in a research note on Friday, August 9th. The Goldman Sachs Group raised their price target on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Bank of America upped their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the company a buy rating in a research note on Monday, July 22nd. Stephens initiated coverage on Lithia Motors in a research note on Thursday, September 12th. They issued an overweight rating and a $360.00 target price on the stock. Finally, StockNews.com lowered Lithia Motors from a hold rating to a sell rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $338.00.

Lithia Motors Stock Performance

Shares of Lithia Motors stock opened at $320.83 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. The company has a market cap of $8.79 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.30 and a beta of 1.64. Lithia Motors has a 52 week low of $231.36 and a 52 week high of $331.96. The business has a 50 day moving average price of $284.70 and a 200-day moving average price of $272.02.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $7.87 EPS for the quarter, beating analysts’ consensus estimates of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The firm had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm earned $10.91 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Lithia Motors will post 28.78 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, August 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.66%. Lithia Motors’s payout ratio is 6.26%.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares of the company’s stock, valued at $556,707.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shauna Mcintyre sold 306 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the sale, the director now directly owns 1,922 shares of the company’s stock, valued at approximately $556,707.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,021 shares of company stock worth $6,534,617. 1.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Lithia Motors by 9.4% in the 4th quarter. Wells Fargo & Company MN now owns 30,282 shares of the company’s stock worth $9,971,000 after buying an additional 2,601 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Lithia Motors by 989.5% during the fourth quarter. Hsbc Holdings PLC now owns 15,003 shares of the company’s stock worth $4,946,000 after purchasing an additional 13,626 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Lithia Motors by 96.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 610 shares of the company’s stock valued at $201,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Lithia Motors by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 12,006 shares of the company’s stock worth $3,953,000 after purchasing an additional 120 shares in the last quarter. Finally, Isthmus Partners LLC bought a new position in Lithia Motors in the 4th quarter worth approximately $286,000.

About Lithia Motors

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.