Commerce Bank Reduces Holdings in Lithia Motors, Inc. (NYSE:LAD) (2024)

Commerce Bank decreased its holdings in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,485 shares of the company’s stock after selling 163 shares during the quarter. Commerce Bank’s holdings in Lithia Motors were worth $818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LAD. Norges Bank purchased a new position in shares of Lithia Motors in the fourth quarter worth approximately $123,976,000. FMR LLC lifted its holdings in Lithia Motors by 10.3% during the third quarter. FMR LLC now owns 492,273 shares of the company’s stock valued at $145,383,000 after purchasing an additional 45,977 shares in the last quarter. Boston Partners lifted its holdings in Lithia Motors by 67.5% during the fourth quarter. Boston Partners now owns 82,915 shares of the company’s stock valued at $26,734,000 after purchasing an additional 33,405 shares in the last quarter. Kensico Capital Management Corp lifted its holdings in Lithia Motors by 41.3% during the third quarter. Kensico Capital Management Corp now owns 113,000 shares of the company’s stock valued at $33,372,000 after purchasing an additional 33,000 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Lithia Motors by 1,288.3% during the third quarter. UBS Group AG now owns 31,862 shares of the company’s stock valued at $9,410,000 after purchasing an additional 29,567 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. Guggenheim downgraded shares of Lithia Motors from a “buy” rating to a “neutral” rating in a report on Friday, May 17th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Morgan Stanley lifted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Finally, Craig Hallum lowered their target price on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Lithia Motors presently has an average rating of “Hold” and an average price target of $318.55.

Check Out Our Latest Stock Analysis on LAD

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now owns 2,228 shares in the company, valued at $566,847.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.79% of the stock is currently owned by company insiders.

Lithia Motors Price Performance

LAD stock opened at $246.44 on Thursday. Lithia Motors, Inc. has a one year low of $229.71 and a one year high of $331.96. The company’s fifty day moving average price is $269.72 and its 200-day moving average price is $284.31. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17. The company has a market capitalization of $6.75 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 3.00 and a beta of 1.59.

Lithia Motors (NYSE:LAD – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the firm posted $8.44 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities analysts anticipate that Lithia Motors, Inc. will post 28.78 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, May 9th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is currently 6.26%.

Lithia Motors Profile

(Free Report)

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.

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