Vise Technologies Inc. Acquires Shares of 3,126 Lithia Motors, Inc. $LAD

Vise Technologies Inc. bought a new position in Lithia Motors, Inc. (NYSE:LAD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,126 shares of the company’s stock, valued at approximately $1,056,000.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its position in Lithia Motors by 114.6% during the 2nd quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock valued at $29,000 after purchasing an additional 47 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Lithia Motors by 1,383.3% in the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after buying an additional 83 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Lithia Motors by 106.2% during the second quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 69 shares during the last quarter. eCIO Inc. purchased a new position in Lithia Motors in the 1st quarter worth approximately $55,000. Finally, CWM LLC lifted its position in Lithia Motors by 30.1% in the 1st quarter. CWM LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 49 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LAD. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Lithia Motors from $320.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Guggenheim decreased their target price on Lithia Motors from $383.00 to $380.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Citigroup raised their price target on shares of Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Bank of America decreased their price objective on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $383.10.

Lithia Motors Trading Down 0.7%

LAD traded down $1.99 during trading on Thursday, reaching $297.93. The company had a trading volume of 6,980 shares, compared to its average volume of 328,371. The business has a 50 day simple moving average of $318.07 and a 200-day simple moving average of $318.40. The stock has a market cap of $7.22 billion, a P/E ratio of 8.69, a PEG ratio of 0.67 and a beta of 1.29. The company has a quick ratio of 0.30, a current ratio of 1.21 and a debt-to-equity ratio of 1.35. Lithia Motors, Inc. has a 52 week low of $262.10 and a 52 week high of $405.67.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, October 22nd. The company reported $9.50 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.97. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The business had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same period in the prior year, the firm earned $8.21 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 7th. Lithia Motors’s payout ratio is presently 6.37%.

Lithia Motors announced that its board has initiated a stock buyback plan on Tuesday, August 26th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

About Lithia Motors

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.