Lithia Motors (LAD)

• Market cap: $9.88B
• 1 day: -0.42%
• 5 days: -1.05%
• 1 month: 22.20%
• 3 months: 26.84%
• 6 months: 37.19%
• Year to date: 14.25%
• 1 year: 31.54%
• 5 years: 130.67%
• 10 years: 406.77%
• Sector: Consumer Discretionary
• Industry: Auto Dealers & Gasoline Stations

About: Lithia Motors is a retailer of new and used vehicles and related services. The company offers over 50 brands of vehicles at nearly 500 stores globally across the US, Canada, and UK. The company has expanded largely through the acquisition of dealerships in smaller regional markets but now seeks to grow in any part of the US and we expect more deals over time in the US and, at times, abroad. Annual revenue in 2023 was $31 billion and we see over $50 billion possible in a few years. The US was 90% of 2023 revenue and the UK second at 6%, the latter should rise to around 20% with the 2024 Pendragon acquisition. In 2023, new-car sales were about 49% of total revenue. Lithia was founded in 1946, went public in 1996, and is the largest US auto dealer. It is based in Medford, Oregon.

Employees: 27,446

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

82% more call options, than puts

Call options by funds: $105M | Put options by funds: $57.3M

57% more funds holding in top 10

Funds holding in top 10: 7 [Q2] → 11 (+4) [Q3]

36% more first-time investments, than exits

New positions opened: 80 | Existing positions closed: 59

24% more capital invested

Capital invested by funds: $7.06B [Q2] → $8.75B (+$1.69B) [Q3]

6% more funds holding

Funds holding: 373 [Q2] → 394 (+21) [Q3]

1.13% more ownership

Funds ownership: 102.09% [Q2] → 103.23% (+1.13%) [Q3]

3% less repeat investments, than reductions

Existing positions increased: 129 | Existing positions reduced: 133

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $299 19% downside
• Avg. target: $355 4% downside
• High target: $405 9% upside

9 analyst ratings

• positive: 5 56%
• neutral: 4 44%
• negative: 0 0%

JP Morgan Rajat Gupta 85% 1-year accuracy 23 / 27 met price target	9% upside $405	Overweight Maintained	5 Nov 2024
Guggenheim Ali Faghri 67% 1-year accuracy 2 / 3 met price target	2% upside $380	Buy Maintained	24 Oct 2024
Wells Fargo Colin Langan 20% 1-year accuracy 6 / 30 met price target	8% downside $343	Equal-Weight Maintained	24 Oct 2024
Stephens & Co. Jeff Lick 43% 1-year accuracy 3 / 7 met price target	9% upside $405	Overweight Maintained	24 Oct 2024
Wells Fargo Colin Langan 20% 1-year accuracy 6 / 30 met price target	19% downside $299	Equal-Weight Maintained	15 Oct 2024