L'intérêt à découvert pour Lithia Motors donne aux investisseurs une idée du degré auquel les investisseurs parient sur la baisse de l'action de Lithia Motors. Les données sur l'intérêt à découvert sont mises à jour toutes les deux semaines.

Lithia Motors (NYSE:LAD) Stock, Rapport sur les intérêts à découvert

Lithia Motors

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.

Lithia Motors Inc

Ladder Capital Corp

LadRx Corp

Seaport Global analyst Glenn Chin maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Buy and raises the price target from $380 to $450.

News

Price Target

Analyst Ratings

Seaport Global Maintains Buy on Lithia Motors, Raises Price Target to $450

Guggenheim analyst Ali Faghri maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Buy and raises the price target from $380 to $418.

Guggenheim Maintains Buy on Lithia Motors, Raises Price Target to $418

On November 13, a recent SEC filing unveiled that BRYAN DEBOER, Chief Executive Officer at Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) made an insider sell.
What Happened: After conducting a thorough analysis, DEBOER sold 15,846 shares of Lithia Motors. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001023128/000102312824000129//Archives/edgar/data/1023128/000102312824000129/0001023128-24-000129-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday. The total transaction value is $6,127,897.
The latest update on Thursday morning shows Lithia Motors shares down by 1.32%, trading at $371.14.
<h3>All You Need to Know About Lithia Motors</h3>
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.
<h3>Lithia Motors: Financial Performance Dissected</h3>
Revenue Growth: Lithia Motors's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 11.41%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Insights into Profitability:
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 15.51%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Lithia Motors's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 7.82.
</li>
</ul>
Debt Management: Lithia Motors's debt-to-equity ratio is below the industry average. With a ratio of 2.13, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 12.84, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The Price to Sales ratio is 0.3, which is lower than the industry average. This suggests a possible undervaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio lower than industry averages at 12.14, Lithia Motors could be considered undervalued.
</li>
</ul>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
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<h3>Why Pay Attention to Insider Transactions</h3>
It's important to note that insider transactions alone should not dictate investment decisions, but they can provide valuable insights.
Exploring the legal landscape, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction.
Highlighted by a company insider's new purchase, there's a positive anticipation for the stock to rise.
But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Transaction Codes Worth Your Attention</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001023128">Check Out The Full List Of Lithia Motors's Insider Trades.</a>
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Sell Alert: BRYAN DEBOER Cashes Out $6.13M In Lithia Motors Stock

Ratings for Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) were provided by 10 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $353.5, a high estimate of $405.00, and a low estimate of $299.00. This upward trend is evident, with the current average reflecting a 12.85% increase from the previous average price target of $313.25.
<img src="https://www.benzinga.com/files/images/story/2024/1730815385_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Lithia Motors. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$405.00</td>
<td>$375.00</td>
</tr>
<tr>
<td>Ali Faghri</td>
<td>Guggenheim</td>
<td>Raises</td>
<td>Buy</td>
<td>$380.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Jeff Lick</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Overweight</td>
<td>$405.00</td>
<td>$360.00</td>
</tr>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$343.00</td>
<td>$299.00</td>
</tr>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$299.00</td>
<td>$302.00</td>
</tr>
<tr>
<td>Ronald Josey</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$320.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Adam Jonas</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$310.00</td>
<td>$225.00</td>
</tr>
<tr>
<td>Jeff Lick</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Overweight</td>
<td>$360.00</td>
<td>-</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$375.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Ali Faghri</td>
<td>Guggenheim</td>
<td>Announces</td>
<td>Buy</td>
<td>$338.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Lithia Motors. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Lithia Motors compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Lithia Motors's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Lithia Motors's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/LAD/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Lithia Motors analyst ratings.</a>
<h2>Unveiling the Story Behind Lithia Motors</h2>
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.
<h3>Breaking Down Lithia Motors's Financial Performance</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Lithia Motors's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 11.41%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 2.27%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Lithia Motors's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 3.22%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Lithia Motors's ROA excels beyond industry benchmarks, reaching 0.9%. This signifies efficient management of assets and strong financial health.
Debt Management: Lithia Motors's debt-to-equity ratio is below the industry average at 2.13, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: What Are They?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Critical Insights From Lithia Motors Analyst Ratings: What You Need To Know

JP Morgan analyst Rajat Gupta maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Overweight and raises the price target from $375 to $405.

JP Morgan Maintains Overweight on Lithia Motors, Raises Price Target to $405

Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) has outperformed the market over the past 15 years by 15.83% on an annualized basis producing an average annual return of 27.68%. Currently, Lithia Motors has a market capitalization of $9.00 billion. 
Buying $1000 In LAD: If an investor had bought $1000 of LAD stock 15 years ago, it would be worth $39,430.38 today based on a price of $342.65 for LAD at the time of writing.
<h3>Lithia Motors's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730383220_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 15 Years Ago Would Be Worth $39,000 Today

Guggenheim analyst Ali Faghri maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Buy and raises the price target from $350 to $380.

Guggenheim Maintains Buy on Lithia Motors, Raises Price Target to $380

Wells Fargo analyst Colin Langan maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Equal-Weight and raises the price target from $299 to $343.

Wells Fargo Maintains Equal-Weight on Lithia Motors, Raises Price Target to $343

Stephens &amp; Co. analyst Jeff Lick maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Overweight and raises the price target from $360 to $405.

Stephens & Co. Maintains Overweight on Lithia Motors, Raises Price Target to $405

<h3>Gainers</h3>
<ul>
<li>Stride (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) stock moved upwards by 34.4% to $86.69 during Wednesday's regular session. The market value of their outstanding shares is at $3.7 billion. As per the news, the Q1 earnings report came out yesterday. </li>
<li>Pinstripes Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNST#NYSE">PNST</a>) shares rose 30.98% to $0.93. The market value of their outstanding shares is at $47.3 million. </li>
<li>Jiade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) stock moved upwards by 26.49% to $1.48. The market value of their outstanding shares is at $36.1 million. </li>
<li>Mingteng International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTEN#NASDAQ">MTEN</a>) shares moved upwards by 21.1% to $7.14. The market value of their outstanding shares is at $44.3 million. </li>
<li>Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) stock moved upwards by 10.24% to $335.75. The company's market cap stands at $8.9 billion. As per the press release, Q3 earnings came out today. </li>
<li>Star Equity Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRRP#NASDAQ">STRRP</a>) stock increased by 8.69% to $10.25. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Interactive Strength (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) shares fell 15.8% to $0.15 during Wednesday's regular session. </li>
<li>Uxin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) shares declined by 13.64% to $4.75. The company's market cap stands at $892.7 million. </li>
<li>Digital Brands Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBGI#NASDAQ">DBGI</a>) stock fell 13.26% to $0.32. The company's market cap stands at $1.2 million. </li>
<li>Alta Global Group (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MMA#AMEX">MMA</a>) stock declined by 12.98% to $1.81. The company's market cap stands at $18.9 million. </li>
<li>JX Luxventure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JXJT#NASDAQ">JXJT</a>) shares fell 12.74% to $1.37. The market value of their outstanding shares is at $8.3 million. </li>
<li>Mullen Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) shares decreased by 12.21% to $2.59. The market value of their outstanding shares is at $14.4 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

DBGI

JDZG

JXJT

MTEN

MULN

PNST

STRRP

TRNR

UXIN

12 Consumer Discretionary Stocks Moving In Wednesday's Intraday Session

U.S. stocks were lower, with the Dow Jones index falling around 200 points on Wednesday.
Shares of Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) rose sharply during Wednesday's session following <a href="https://www.benzinga.com/quote/TXN/earnings">better-than-expected third-quarter financial results.</a>
Texas Instruments reported quarterly earnings of $1.47 per share, which beat the analyst consensus estimate of $1.37. Quarterly revenue of $4.151 billion beat the consensus estimate of $4.12 billion.
Texas Instruments shares surged 4.3% to $202.30 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) shares climbed 31% to $84.49 after the company reported better-than-expected first-quarter financial results and issued FY25 and Q2 revenue guidance above estimates.</li>
<li>Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>) gained 24.4% to $12.50 after the company reported preliminary third-quarter revenue guidance above estimates. Also, the company announced organizational changes including a workforce reduction.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) gained 18.3% to $51.43 after the company reported better-than-expected third-quarter financial results.</li>
<li>John Bean Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBT#NYSE">JBT</a>) surged 11.7% to $106.36 after the company reported better-than-expected third-quarter adjusted EPS and sales.</li>
<li>Valmont Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) gained 10.6% to $326.14 following upbeat quarterly earnings.</li>
<li>Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) climbed 8.9% to $22.67.</li>
<li>Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) gained 8.9% to $331.58 following better-than-expected quarterly earnings.</li>
<li>Northern Trust Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) surged 7.5% to $103.00 after the company reported better-than-expected quarterly financial results.</li>
<li>East West Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) rose 7.5% to $97.14 following upbeat earnings.</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) gained 5.8% to $229.32 after the company reported better-than-expected quarterly financial results.</li>
<li>Renasant Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) surged 5.5% to $34.25 following strong quarterly results.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) gained 5% to $3.6600. EF Hutton analyst Jason Kolbert initiated coverage on ImmunityBio with a Buy rating and announced a price target of $30.</li>
<li>Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) gained 4.2% to $461.94 after reporting strong quarterly earnings.</li>
</ul>
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Texas Instruments Posts Strong Q3 Results, Joins Valmont Industries, Lithia Motors, Teledyne Technologies And Other Big Stocks Moving Higher On Wednesday

WIIM

Lithia Motors shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results.

Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) reported third-quarter adjusted earnings per share of $8.21,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41481954/lithia-driveway-lad-reports-record-third-quarter-revenue-of-9-2-billion-an-11-increase" rel="noreferrer noopener"> beating the analyst consensus estimate of $7.60.</a>
Unrealized investment gains and foreign currency exchange gains increased diluted earnings per share by 11 cents.
Quarterly sales of $9.221 billion (+11%) missed the street view of $9.482 billion.
Revenue Segments: New vehicle retail (+14%), Used vehicle retail (+8.5%), Used vehicle wholesale (+23.7%), Finance and insurance (+3.1%), Aftersales (+20.9%), Fleet and other (-31.4%).
Adjusted net income was $222 million, reflecting a 14% decrease from $258 million in the same period of 2023.
Aftersales gross profit increased by 6.3% on a same-store basis. The financing operations remained profitable, reporting quarterly income of $1 million.
Also Read:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41478318/teslas-fancy-data-and-computing-claims-likely-will-not-impress-investors-gary-black-highlights-d" rel="noreferrer noopener"> Tesla&#8217;s Fancy Data And Computing Claims Likely Will Not Impress Investors: Gary Black Highlights Drastic Jump In EV Disengagement Rates And Missing Robotaxi Details As Key Question</a>
In the third quarter, the company expanded its network in the Southeast by acquiring three stores from Duval Motor Company in Jacksonville and Gainesville, Florida.
These acquisitions will enhance Lithia Motors&#8217; presence in the import and luxury segments in Florida, broadening the geographic scope of the company&#8217;s retail network.
So far this year, Lithia Motors has achieved over $5.9 billion in annualized revenues through its acquisitions.
Driveway Finance Corporation (DFC) originated $518 million in loans, bringing its total portfolio to $3.8 billion.
The company ended the third quarter with approximately&nbsp;$1.1 billion&nbsp;in cash and cash equivalents.
Dividend: The company approved a dividend of 53&nbsp;cents per share related to third quarter 2024 financial results. The dividend is expected to be paid on November&nbsp;15 to shareholders of record on November&nbsp;8.
During 2024, the firm repurchased approximately 986,000 shares at a weighted average price of&nbsp;$260.
Under the current share repurchase authorization, approximately&nbsp;$560.9 million&nbsp;remains available.
Price Action: LAD shares are trading higher by 2.788% to $313.01 premarket at last check Wednesday.
Read Next:
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Earnings

Equities

Dividends

General

Lithia Motors Q3: Earnings Beat Estimates, New Store Acquisitions Expand Market Reach Across Luxury Segments In Florida

Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) reported quarterly earnings of $8.21 per share which beat the analyst consensus estimate of $7.60 by 8.03 percent. The company reported quarterly sales of $9.221 billion which missed the analyst consensus estimate of $9.482 billion by 2.75 percent. This is a 11.41 percent increase over sales of $8.277 billion the same period last year.

Earnings Beats

Earnings Misses

Lithia Motors Q3 2024 Adj. EPS $8.21 Beats $7.60 Estimate, Sales $9.221B Miss $9.482B Estimate

10 analysts have shared their evaluations of Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $328.4, a high estimate of $375.00, and a low estimate of $299.00. Marking an increase of 14.83%, the current average surpasses the previous average price target of $286.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1729004492_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Lithia Motors. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$299.00</td>
<td>$302.00</td>
</tr>
<tr>
<td>Ronald Josey</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$320.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Adam Jonas</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$310.00</td>
<td>$225.00</td>
</tr>
<tr>
<td>Jeff Lick</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Overweight</td>
<td>$360.00</td>
<td>-</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$375.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Ali Faghri</td>
<td>Guggenheim</td>
<td>Announces</td>
<td>Buy</td>
<td>$338.00</td>
<td>-</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$315.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$302.00</td>
<td>$266.00</td>
</tr>
<tr>
<td>Kate McShane</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$335.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>John Murphy</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$330.00</td>
<td>$320.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Lithia Motors. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Lithia Motors compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Lithia Motors's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Lithia Motors's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/LAD/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Lithia Motors analyst ratings.</a>
<h2>Unveiling the Story Behind Lithia Motors</h2>
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.
<h3>Breaking Down Lithia Motors's Financial Performance</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Lithia Motors displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 13.81%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: Lithia Motors's net margin is impressive, surpassing industry averages. With a net margin of 2.32%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Lithia Motors's ROE excels beyond industry benchmarks, reaching 3.37%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Lithia Motors's ROA excels beyond industry benchmarks, reaching 0.94%. This signifies efficient management of assets and strong financial health.
Debt Management: Lithia Motors's debt-to-equity ratio is below the industry average. With a ratio of 2.21, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Lithia Motors: Insights From 10 Financial Analysts

Wells Fargo analyst Colin Langan maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Equal-Weight and lowers the price target from $302 to $299.

Wells Fargo Maintains Equal-Weight on Lithia Motors, Lowers Price Target to $299

Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) has been analyzed by 9 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $331.67, along with a high estimate of $375.00 and a low estimate of $302.00. This upward trend is evident, with the current average reflecting a 16.9% increase from the previous average price target of $283.71.
<img src="https://www.benzinga.com/files/images/story/2024/1727463677_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Lithia Motors's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ronald Josey</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$320.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Adam Jonas</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$310.00</td>
<td>$225.00</td>
</tr>
<tr>
<td>Jeff Lick</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Overweight</td>
<td>$360.00</td>
<td>-</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$375.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Ali Faghri</td>
<td>Guggenheim</td>
<td>Announces</td>
<td>Buy</td>
<td>$338.00</td>
<td>-</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$315.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$302.00</td>
<td>$266.00</td>
</tr>
<tr>
<td>Kate McShane</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$335.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>John Murphy</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$330.00</td>
<td>$320.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Lithia Motors. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Lithia Motors compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Lithia Motors's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/LAD/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Lithia Motors analyst ratings.</a>
<h2>Delving into Lithia Motors's Background</h2>
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.
<h3>Key Indicators: Lithia Motors's Financial Health</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Over the 3 months period, Lithia Motors showcased positive performance, achieving a revenue growth rate of 13.81% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 2.32%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Lithia Motors's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.37% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Lithia Motors's ROA excels beyond industry benchmarks, reaching 0.94%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 2.21.
<h2>Analyst Ratings: Simplified</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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Key Takeaways From Lithia Motors Analyst Ratings

Citigroup analyst Ronald Josey maintains Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) with a Neutral and raises the price target from $280 to $320.

Citigroup Maintains Neutral on Lithia Motors, Raises Price Target to $320

Analysts at Morgan Stanley sparked a shakeup across auto stocks Wednesday as the firm moved to the sidelines on automakers and turned more positive on <a href="https://www.benzinga.com/money/best-auto-parts-stocks">dealers and parts companies</a>.
What Happened: Morgan Stanley analyst Adam Jonas downgraded Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) on Wednesday as he cut his overall U.S. auto industry outlook from Attractive to In Line.
Jonas&#8217; more sour view of the auto industry landscape is being driven by a combination of factors he believes may not be fully understood by the market, including climbing inventories, vehicle affordability challenges, rising credit losses and delinquencies and growth slowdowns in China.
&#8220;In addition, our previous attractive industry view was supported by our expectation of significant strategic changes such as lower capex and potential consolidation (M&amp;A/partnership) to improve capital efficiency. While there has been some modicum of progress, it has failed to meet our expectations,&#8221; the Morgan Stanley analyst said in a new note to clients.
Jonas also noted Morgan Stanley had been optimistic about automakers getting a boost for being AI enablers, but that concerns about the significant capital requirements for AI development now counter thesis.
Finally, investors are looking for an opportunity in the market driven by the <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/41008403/consumer-confidence-tumbles-as-concerns-over-labor-market-grow-odds-rise-for-50-b">Federal Reserve&#8217;s rate-cutting cycle</a>, but although rate cuts can provide &#8220;temporary&#8221; relief for automakers, cuts are not likely to drive material outperformance, Jonas said.
The Morgan Stanley analyst highlighted data showing that although U.S. auto stocks have modestly outperformed on average in the six months following a rate cut, they have historically underperformed over the subsequent six-month period.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp">Mortgage Demand Soars As Fed Interest Rate Cut Fuels Housing Market Revival: &#8216;Next Spring Could See A Real Rebound&#8217;</a>
Ford Downgrade: Morgan Stanley downgraded Ford from Overweight to Equal-Weight and lowered the price target from $16 to $12.
Jonas expects Ford to suffer greater market share losses through the end of the decade. The analyst also anticipates pricing headwinds and regulatory compliance risk, which could hurt profitability. Jonas lowered his normalized earnings expectations by 15.1%. 
Morgan Stanley has a bull case price target of $19 on Ford stock and a bear case price target of $6.
GM Downgrade: Morgan Stanley downgraded GM from <a href="https://www.benzinga.com/analyst-stock-ratings">Equal-Weight to Underweight</a> and lowered the price target from&nbsp;$47&nbsp;to&nbsp;$42.
Jonas sees a lot of the same headwinds in front of GM. He specifically pointed to <a href="https://www.benzinga.com/news/24/09/40981404/us-proposes-ban-on-vehicles-equipped-with-chinese-software-as-team-biden-cracks-down-on-foreign-adve">China concerns</a> as one of the main drivers of the downgrade. GM has significant exposure to the Chinese automakers through its joint ventures, the analyst said.
&#8220;In addition, we believe investors may not appreciate the potentially adverse impact that excess capacity in China has on other highly profitable regions in the global auto market,&#8221; Jonas said.
Morgan Stanley lowered its normalized earnings estimates for GM by 16.4% but left its bull case price target of $62 and bear case price target of $28 unchanged.
Rivian Downgrade: Morgan Stanley downgraded Rivian from Overweight to Equal-Weight and lowered the price target from $16 to $13.
&#8220;The downgrade reflects our incorporation of the capital intensity of AV/ADAS which may be required to fulfill the technological underpinnings that attracted Volkswagen as a JV partner,&#8221; Jonas said. 
The Morgan Stanley analyst increased his annual capex estimates by $200 to $300 million per year beginning in 2026 as he waits for management to announce details around its joint venture cost structure. 
Morgan Stanley&#8217;s new price target of $13 consists of $10 per share in value for the automotive business and $3 per share in value for Rivian&#8217;s software and services business. The firm has a bull case price target of $29 and a bear case target of $6.
Related Link: <a href="https://www.benzinga.com/news/24/09/40985825/tesla-and-chinese-ev-startups-outpace-toyota-volkswagen-in-critical-software-race-report">Tesla And Chinese EV Startups Outpace Toyota, Volkswagen In Critical Software Race: Report</a>
Why It Matters: On the flip side, Morgan Stanley upgraded franchise dealers as the firm believes we are in the later innings of mean reversion in the franchise dealer model relative to legacy automakers who are just now going through peak earnings and are battling increased headwinds. 
&#8220;We believe that our latent concerns about the franchise dealer business model (secular DTC bear case, mean reversion thesis) have proven largely mitigated and see greater risk in other pockets of our U.S. autos coverage,&#8221; Jonas said.
Franchise dealers have proven to be pretty resilient by managing costs and focusing more on parts and services profits. Given the slower-than-expected <a href="http://benzinga.com/topic/evs">EV</a> adoption pace, these companies stand to benefit from a longer internal combustion engine parts tail and strength in hybrids, the analyst said.
Furthermore, many of the franchise dealers are more geared toward the higher-end consumer, which helps insulate the companies from a broader deterioration in auto credit relative to other areas of Morgan Stanley&#8217;s coverage.
<ul>
<li>Morgan Stanley upgraded Group 1 Automotive Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) from Equal Weight to Overweight and raised the price target to $430.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Penske Automotive Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAG#NYSE">PAG</a>) from Underweight to Overweight and raised the price target from $115 to $180.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded AutoNation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) from Equal-Weight to Overweight and raised the price target from $145 to $200.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Asbury Automotive Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABG#NYSE">ABG</a>) from Underweight to Equal-Weight and raised the price target from $190 to $240.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) from Underweight to Equal-Weight and raised the price target from $225 to $310.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Sonic Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAH#NYSE">SAH</a>) from Underweight to Equal-Weight and raised the price target from $40 to $58.</li>
</ul>
F, GM, RIVN Price Action: At publication time, Ford shares were down 4.46% at $10.39, GM shares were down 5.51% at $45.42 and Rivian shares were down 6.42% at $11.10, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40973189/teslas-chinese-rival-byd-plans-to-assemble-evs-in-pakistan-after-india-said-no-we-have-big-ambit">Tesla&#8217;s Chinese Rival BYD Plans To Assemble EVs In Pakistan After India Said No: &#8216;We Have Big Ambitions&#8217;</a></li>
</ul>
Photo: Shutterstock.

Analyst Color

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RIVN

Analyst Ditches Automakers For Auto Dealers, Parts Companies

Morgan Stanley analyst Adam Jonas upgrades Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) from Underweight to Equal-Weight and raises the price target from $225 to $310.

Morgan Stanley Upgrades Lithia Motors to Equal-Weight, Raises Price Target to $310

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In a report released today, Adam Jonas from Morgan Stanley maintained a Hold rating on Lithia Motors (LAD – Research Report), with a price target o...

Morgan Stanley Sticks to Their Hold Rating for Lithia Motors (LAD)

Seaport Research raised the firm's price target on Lithia & Driveway to $450 from $380 and keeps a Buy rating on the shares. The firm raised its pr...

Lithia & Driveway price target raised to $450 from $380 at Seaport Research

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