Lithia Motors (LAD - Free Report) recently purchased three Ford stores from the Elder Auto Group. The Elder Ford of Tampa should boost Lithia Motor's domestic footprint in Florida, region 6 and Elder Ford of Troy and Elder Ford of Romeo will be adding density to Michigan operations in region 3. The stores jointly are expected to generate $425 million in annualized revenues. Existing on-balance sheet capacity was used for financing the acquisitions.
The Elder Auto Group has won numerous awards, including the 2020 Ford Motor Company's prestigious Presidents Award. The Elder Auto Group has a reputation for providing quality customer service and has won multiple awards, including the 2020 Ford Motor Company's prestigious Presidents Award.
Lithia Motors is enthusiastic to include well-equipped teams of the Elder Group. The addition of the Elder Ford stores can take up LAD's total expected annualized revenues for 2021 to nearly $7 billion. The company is already poised to exceed its five-year plan benchmark, announced in July 2020, to reach $50 billion in revenues and $50 of earnings per share.
In another development, LAD entered into South Florida with Audi Fort Lauderdale and Audi Coral Springs. The Florida stores are expected to considerably increase LAD's luxury footprint in the southeast region and together are expected to generate $275 million in annualized revenues.
Shares of Lithia Motors have climbed 40.6% over a year, outperforming the industry’s 0.6% rise.
Zacks Rank & Key Picks
Lithia Motors currently carries a Zacks Rank #3 (Hold).
Better-ranked peers in the same space include Goodyear (GT - Free Report) , flaunting a Zacks Rank #1 (Strong Buy) and Genuine Parts (GPC - Free Report) and Dorman Products (DORM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised 77% upward over the last 60 days.
Goodyear beat the Zacks Consensus Estimate for earnings in all the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 228.5%, on average. Its shares have also gained around 125.1% over a year.
Genuine Parts has an expected earnings growth rate of 27.3% for the current year. The Zacks Consensus Estimate for the current year has been revised around 5% upward over the past 60 days.
Genuine Parts beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters. The company delivered a trailing four-quarter earnings surprise of roughly 16%, on average. Its shares have rallied around 36.5% over a year.
Dorman has an expected earnings growth rate of 36% for the current year. The Zacks Consensus Estimate for the current year has been revised 2% upward over the past 60 days.
Dorman beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 10.41%, on average. Its shares have also rallied around 23.9% over a year.
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Lithia Motors (LAD - Free Report) recently purchased three Ford stores from the Elder Auto Group. The Elder Ford of Tampa should boost Lithia Motor's domestic footprint in Florida, region 6 and Elder Ford of Troy and Elder Ford of Romeo will be adding density to Michigan operations in region 3. The stores jointly are expected to generate $425 million in annualized revenues. Existing on-balance sheet capacity was used for financing the acquisitions.
The Elder Auto Group has won numerous awards, including the 2020 Ford Motor Company's prestigious Presidents Award. The Elder Auto Group has a reputation for providing quality customer service and has won multiple awards, including the 2020 Ford Motor Company's prestigious Presidents Award.
Lithia Motors is enthusiastic to include well-equipped teams of the Elder Group. The addition of the Elder Ford stores can take up LAD's total expected annualized revenues for 2021 to nearly $7 billion. The company is already poised to exceed its five-year plan benchmark, announced in July 2020, to reach $50 billion in revenues and $50 of earnings per share.
In another development, LAD entered into South Florida with Audi Fort Lauderdale and Audi Coral Springs. The Florida stores are expected to considerably increase LAD's luxury footprint in the southeast region and together are expected to generate $275 million in annualized revenues.
Shares of Lithia Motors have climbed 40.6% over a year, outperforming the industry’s 0.6% rise.
Zacks Rank & Key Picks
Lithia Motors currently carries a Zacks Rank #3 (Hold).
Better-ranked peers in the same space include Goodyear (GT - Free Report) , flaunting a Zacks Rank #1 (Strong Buy) and Genuine Parts (GPC - Free Report) and Dorman Products (DORM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised 77% upward over the last 60 days.
Goodyear beat the Zacks Consensus Estimate for earnings in all the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 228.5%, on average. Its shares have also gained around 125.1% over a year.
Genuine Parts has an expected earnings growth rate of 27.3% for the current year. The Zacks Consensus Estimate for the current year has been revised around 5% upward over the past 60 days.
Genuine Parts beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters. The company delivered a trailing four-quarter earnings surprise of roughly 16%, on average. Its shares have rallied around 36.5% over a year.
Dorman has an expected earnings growth rate of 36% for the current year. The Zacks Consensus Estimate for the current year has been revised 2% upward over the past 60 days.
Dorman beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 10.41%, on average. Its shares have also rallied around 23.9% over a year.
Buy 5 Stocks BEFORE Election Day
Biden or Trump? Zacks is releasing a FREE Special Report, Profit from the 2024 Presidential Election (no matter who wins).
Since 1950, presidential election years have been strong for the market. This report names 5 timely stocks to ride the wave of electoral excitement.
They include a medical manufacturer that gained +11,000% in the last 15 years… a rental company absolutely crushing its sector… an energy powerhouse planning to grow its already large dividend by 25%... an aerospace and defense standout that just landed a potentially $80 billion contract… and a giant chipmaker building huge plants in the U.S.
Don’t Wait. Download FREE >>
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