Goldman Sachs Group Inc. increased its holdings in Lithia Motors Inc (NYSE:LAD) by 15.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 626,421 shares of the company’s stock after purchasing an additional 82,360 shares during the quarter. Goldman Sachs Group Inc. owned 2.51% of Lithia Motors worth $71,155,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in Lithia Motors during the 3rd quarter worth approximately $144,000. Public Employees Retirement System of Ohio increased its stake in Lithia Motors by 12.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock worth $170,000 after buying an additional 204 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Lithia Motors by 174.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock worth $188,000 after buying an additional 1,053 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Lithia Motors in the fourth quarter valued at approximately $203,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Lithia Motors in the third quarter valued at approximately $236,000.
A number of research firms have recently issued reports on LAD. Stephens restated a “buy” rating on shares of Lithia Motors in a research report on Thursday, February 15th. Morgan Stanley upped their price target on Lithia Motors from $116.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, March 14th. ValuEngine lowered Lithia Motors from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $139.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Buckingham Research lowered their price objective on Lithia Motors from $137.00 to $131.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $129.29.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $126.00, for a total value of $630,000.00. Following the sale, the director now directly owns 105,064 shares in the company, valued at $13,238,064. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.95% of the stock is owned by company insiders.
Shares of NYSE LAD traded down $1.92 during mid-day trading on Friday, hitting $100.99. The company had a trading volume of 255,206 shares, compared to its average volume of 281,820. The stock has a market cap of $2,526.77, a P/E ratio of 12.04, a PEG ratio of 0.48 and a beta of 1.72. The company has a current ratio of 1.21, a quick ratio of 0.28 and a debt-to-equity ratio of 0.95. Lithia Motors Inc has a 1-year low of $81.14 and a 1-year high of $127.99.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.06. Lithia Motors had a return on equity of 20.81% and a net margin of 2.43%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm earned $1.86 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. equities analysts forecast that Lithia Motors Inc will post 10.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, March 8th. Lithia Motors’s dividend payout ratio is presently 12.87%.
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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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