Lithia Motors (LAD) Jumps 7% Premarket After Blow Out Quarter - Wells Fargo

Wells Fargo analyst Colin Langan reiterated an Overweight rating and $345.00 price target on Lithia Motors (NYSE: LAD) after Q4 EPS of $11.39 came in above the Visible Alpha (VA) consensus of $9.95 driven by margins (+$0.87), sales (+$0.45), and tax (+$0.12). Sales of $6.3B increased by 60% y/y, better than VA consensus of $6.07B.

The analyst stated "LAD does not provide annual guidance; however the company has updated its capita lallocation priorities. In Q4 2021, LAD acquired dealers with $700MM in annualized revenue, and YTD the company acquired an additional $700MM in sales. Since announcing their 2025 plan 18 months ago, LAD acquired >$11B in annualized revenue. LAD also repurchased >756K shares, or ~2.5% of shares outstanding in Q4. Lastly, LAD's board approved a dividend of $0.35 per share in Q4 2022."

For an analyst ratings summary and ratings history on Lithia Motors click here. For more ratings news on Lithia Motors click here.

Shares of Lithia Motors closed at $298.76 yesterday.

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