Lithia Motors, Inc. (NYSE:LAD) Stock Position Cut by Granahan Investment Management LLC
Granahan Investment Management LLC decreased its holdings in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 53.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,111 shares of the company’s stock after selling 44,138 shares during the period. Granahan Investment Management LLC owned approximately 0.14% of Lithia Motors worth $11,590,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Lithia Motors in the second quarter worth about $33,000. Quantbot Technologies LP bought a new position in Lithia Motors during the second quarter valued at approximately $46,000. AXS Investments LLC bought a new position in shares of Lithia Motors in the second quarter valued at approximately $53,000. Nisa Investment Advisors LLC raised its position in shares of Lithia Motors by 1,023.8% in the first quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $54,000 after purchasing an additional 215 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Lithia Motors in the fourth quarter valued at approximately $60,000.
Wall Street Analysts Forecast Growth
LAD has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Lithia Motors from $348.00 to $300.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $275.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. StockNews.com initiated coverage on shares of Lithia Motors in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. downgraded shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $295.00 price objective on the stock. in a research note on Tuesday, October 31st. Finally, Morgan Stanley lifted their price target on shares of Lithia Motors from $198.00 to $220.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lithia Motors has a consensus rating of “Hold” and a consensus target price of $324.89.
Get Our Latest Stock Report on LAD
Lithia Motors Price Performance
Shares of Lithia Motors stock traded up $10.60 during trading on Friday, reaching $277.59. The company’s stock had a trading volume of 148,562 shares, compared to its average volume of 153,904. The stock has a 50-day moving average price of $267.22 and a two-hundred day moving average price of $281.09. The company has a current ratio of 1.33, a quick ratio of 0.32 and a debt-to-equity ratio of 1.09. Lithia Motors, Inc. has a one year low of $185.00 and a one year high of $329.00. The stock has a market capitalization of $7.64 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 3.66 and a beta of 1.56.
Lithia Motors (NYSE:LAD – Get Free Report) last released its quarterly earnings results on Wednesday, October 25th. The company reported $9.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.99 by ($0.74). The business had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.17 billion. Lithia Motors had a net margin of 3.41% and a return on equity of 18.51%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.08 earnings per share. As a group, sell-side analysts anticipate that Lithia Motors, Inc. will post 36.84 EPS for the current fiscal year.
Lithia Motors Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.72%. Lithia Motors’s payout ratio is currently 5.33%.
About Lithia Motors (Free Report)
Lithia Motors, Inc operates as an automotive retailer. The company operates through Domestic, Import, and Luxury segments. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells body and parts for the new vehicles under the Driveway and GreenCars brand names.
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