Lithia MotorsLAD
Market Cap: $7.38B
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 Q2 SEC filings by fund managers ($100M+ AUM)
4% less repeat investments, than reductions
Existing positions increased: 130 | Existing positions reduced: 135
5% less call options, than puts
Call options by funds: $45.1M | Put options by funds: $47.5M
3.03% less ownership
Funds ownership: 103.52% [Q1] → 100.49% (-3.03%) [Q2]
9% less funds holding
Funds holding: 408 [Q1] → 372 (-36) [Q2]
19% less capital invested
Capital invested by funds: $8.57B [Q1] → $6.95B (-$1.62B) [Q2]
36% less funds holding in top 10
Funds holding in top 10: 11 [Q1] → 7 (-4) [Q2]
41% less first-time investments, than exits
New positions opened: 51 | Existing positions closed: 87
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Guggenheim Ali Faghri 33% 1-year accuracy 1 / 3 met price target | 22%upside $338 | Buy Upgraded | 9 Aug 2024 |
JP Morgan Rajat Gupta 69% 1-year accuracy 18 / 26 met price target | 14%upside $315 | Overweight Maintained | 6 Aug 2024 |
Wells Fargo Colin Langan 20% 1-year accuracy 5 / 25 met price target | 9%upside $302 | Equal-Weight Maintained | 2 Aug 2024 |
Goldman Sachs Kate McShane 66% 1-year accuracy 31 / 47 met price target | 21%upside $335 | Neutral Maintained | 2 Aug 2024 |
B of A Securities John Murphy 49% 1-year accuracy 17 / 35 met price target | 20%upside $330 | Buy Maintained | 22 Jul 2024 |