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Highlights
- Rhumbline Advisers slightly reduced its stake in Lithia Motors by 0.9% during the 4th quarter.
- Several institutional investors increased their positions in Lithia Motors, reflecting growing interest in the company.
- Analysts have revised their price targets for Lithia Motors, with some maintaining a positive outlook.
Rhumbline Advisers trimmed its holdings in Lithia Motors, Inc. (NYSE:LAD) by 0.9% in the fourth quarter, based on a recent filing with the Securities and Exchange Commission (SEC). By the end of this period, Rhumbline Advisers owned 77,477 shares valued at approximately $27,693,000, representing 0.29% of the company’s stock.
Meanwhile, other institutional investors showed increased interest in Lithia Motors. V Square Quantitative Management LLC expanded its holdings by 33.9%, raising its total to 146 shares valued at $52,000. Similarly, Consolidated Planning Corp increased its investment by 55.7%, now holding 2,891 shares worth $1,033,000. Additionally, Essex Financial Services Inc., Empowered Funds LLC, and Tectonic Advisors LLC all acquired new stakes in the company during this period.
Analyst Ratings and Forecasts
Lithia Motors has attracted considerable attention from analysts, who have recently adjusted their ratings and price targets for the company. StockNews.com upgraded its rating from “sell” to “hold.” Further, Wells Fargo & Company increased their price objective from $346.00 to $397.00 with an “equal weight” rating, while Guggenheim raised their target from $380.00 to $418.00 with a favorable assessment.
Evercore ISI took an optimistic stance by lifting its price target from $400.00 to $440.00, recommending an “outperform” rating. Additionally, JPMorgan Chase & Co. adjusted their target from $400.00 to $420.00, assigning an “overweight” rating. The consensus from MarketBeat.com places Lithia Motors at an “average buy,” reflecting a general positive sentiment with an average target price of $371.36.
Financial Performance and Dividends
The company's stock opened at $364.78 recently, with a volatile range over the past 12 months of $243.00 to $405.67. Lithia Motors reported earnings per share (EPS) of $7.79 for the last quarter, surpassing analyst expectations of $7.33. The firm reported a net margin of 2.21% and a return on equity of 12.43%.
Moreover, Lithia Motors declared a $0.53 quarterly dividend, equating to an annualized $2.12 per share with a yield of 0.58%. The dividend payout ratio stands at 7.14%, reflecting the company's stable financial health.
Insider Transactions
Several insider transactions have been reported recently. Chief Operating Officer Adam Chamberlain sold 403 shares, decreasing his ownership by 13.40%. Concurrently, insider Gary M. Glandon sold 325 shares, resulting in a 16.33% reduction in his stake. Over the past 90 days, insiders have sold a cumulative 20,097 shares, totaling a value of approximately $7.9 million.
Lithia Motors, Inc., a prominent automotive retailer, operates globally with two main segments: Vehicle Operations and Financing Operations. The company provides new and used vehicle sales, repair and maintenance services, vehicle financing, and insurance products. The Financing Operations segment focuses on supporting customers with their vehicle purchases and leases.
