Congdon Stacy Loretz Sells 270 Shares of Lithia Motors, Inc. (NYSE:LAD) Stock

Lithia Motors, Inc. (NYSE:LAD) Director Congdon Stacy Loretz sold 270 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the sale, the director now owns 1,213 shares in the company, valued at approximately $362,444.40. The trade was a 18.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lithia Motors Trading Up 3.4 %

Shares of Lithia Motors stock opened at $295.39 on Friday. The company has a market capitalization of $7.76 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 4.65 and a beta of 1.69. The stock has a fifty day simple moving average of $349.24 and a 200 day simple moving average of $341.52. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $405.68. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.72%. Lithia Motors’s dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LAD. Evercore ISI increased their price target on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Guggenheim raised their price target on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on Lithia Motors from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.36.

Hedge Funds Weigh In On Lithia Motors

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Lithia Motors during the fourth quarter worth $152,752,000. Egerton Capital UK LLP bought a new stake in shares of Lithia Motors during the 4th quarter worth $113,250,000. Steadfast Capital Management LP boosted its holdings in shares of Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock worth $164,524,000 after buying an additional 266,715 shares during the last quarter. Madison Investment Advisors LLC bought a new position in Lithia Motors during the fourth quarter valued at about $91,190,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Lithia Motors during the fourth quarter worth about $46,505,000.

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.