Lithia Motors Inc (NYSE:LAD) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 2,520,000 shares, a decline of 10.0% from the August 31st total of 2,800,000 shares. Currently, 11.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 404,100 shares, the short-interest ratio is currently 6.2 days.
In related news, SVP Thomas Dobry sold 2,321 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $241.43, for a total value of $560,359.03. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Louis Miramontes sold 381 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $245.06, for a total value of $93,367.86. Following the completion of the sale, the director now owns 3,920 shares in the company, valued at $960,635.20. The disclosure for this sale can be found here. Insiders sold 30,464 shares of company stock worth $7,596,831 over the last quarter. 3.95% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA lifted its holdings in shares of Lithia Motors by 49.1% during the 2nd quarter. Glenmede Trust Co. NA now owns 346 shares of the company’s stock valued at $52,000 after purchasing an additional 114 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in Lithia Motors in the 2nd quarter worth $76,000. Macquarie Group Ltd. raised its stake in Lithia Motors by 43.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,005 shares of the company’s stock worth $152,000 after acquiring an additional 305 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in Lithia Motors in the 2nd quarter worth $210,000. Finally, Keudell Morrison Wealth Management purchased a new position in Lithia Motors in the 2nd quarter worth $212,000.
Shares of LAD traded up $24.74 during midday trading on Friday, hitting $271.51. 1,764,227 shares of the company’s stock traded hands, compared to its average volume of 337,797. Lithia Motors has a 1 year low of $55.74 and a 1 year high of $278.14. The firm’s fifty day moving average is $244.46 and its 200-day moving average is $159.80. The company has a current ratio of 1.20, a quick ratio of 0.30 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 22.85 and a beta of 1.81.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.72 EPS for the quarter, beating the consensus estimate of $1.54 by $2.18. Lithia Motors had a return on equity of 19.36% and a net margin of 2.28%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.32 billion. On average, equities research analysts anticipate that Lithia Motors will post 13.82 EPS for the current year.
LAD has been the topic of a number of research analyst reports. Benchmark boosted their target price on Lithia Motors from $240.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. ValuEngine upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Guggenheim upped their price objective on Lithia Motors from $233.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Craig Hallum upped their price objective on Lithia Motors from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley upped their price objective on Lithia Motors from $180.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $247.29.
Lithia Motors Company Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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