Lithia Motors Inc. (LAD - Free Report) recently announced the acquisition of Kemp Ford in Thousand Oaks in California. The automotive retailer will rename the store as DCH Ford of Thousand Oaks. The latest buyout is expected to boost Lithia Motors’ revenues by $65 million annually.
This acquisition marks the third takeover by Lithia Motors on the DCH platform this year. The company believes that this acquisition will complement its existing operations in Southern California. In addition, Lithia Motors considers that the acquisition will further expand its relation with Ford Motor Co. (F - Free Report) and will diversify its brand mix.
Lithia Motors strives to expand its business through acquisitions and store openings. In 2014, the company acquired 35 stores and opened one franchise. In 2015, the company acquired six stores, opened one and added a franchise.
In Jan 2016, Lithia Motors announced the acquisition of Riverside Subaru in Riverside, CA. The company will rename the store as DCH Subaru of Riverside. This store is expected to boost Lithia Motors’ revenues by $45 million per annum. In Feb 2016, Lithia Motors announced the acquisition of Ira Toyota/Scion of Milford, MA. The company will rename the newly acquired store as DCH Toyota/Scion of Milford. This store is likely to contribute $65 million to Lithia Motors’ revenues per annum. In the second quarter of 2016, Lithia Motors completed the acquisition of a GMC Buick franchise in Helena, MT.
Lithia Motors currently carries a Zacks Rank #3 (Hold).
Stocks that Warrant a Look
Better-ranked automobile stocks include The Goodyear Tire & Rubber Company (GT - Free Report) and Gentex Corp. (GNTX - Free Report) , both carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Lithia Motors Inc. (LAD - Free Report) recently announced the acquisition of Kemp Ford in Thousand Oaks in California. The automotive retailer will rename the store as DCH Ford of Thousand Oaks. The latest buyout is expected to boost Lithia Motors’ revenues by $65 million annually.
This acquisition marks the third takeover by Lithia Motors on the DCH platform this year. The company believes that this acquisition will complement its existing operations in Southern California. In addition, Lithia Motors considers that the acquisition will further expand its relation with Ford Motor Co. (F - Free Report) and will diversify its brand mix.
Lithia Motors strives to expand its business through acquisitions and store openings. In 2014, the company acquired 35 stores and opened one franchise. In 2015, the company acquired six stores, opened one and added a franchise.
In Jan 2016, Lithia Motors announced the acquisition of Riverside Subaru in Riverside, CA. The company will rename the store as DCH Subaru of Riverside. This store is expected to boost Lithia Motors’ revenues by $45 million per annum. In Feb 2016, Lithia Motors announced the acquisition of Ira Toyota/Scion of Milford, MA. The company will rename the newly acquired store as DCH Toyota/Scion of Milford. This store is likely to contribute $65 million to Lithia Motors’ revenues per annum. In the second quarter of 2016, Lithia Motors completed the acquisition of a GMC Buick franchise in Helena, MT.
Lithia Motors currently carries a Zacks Rank #3 (Hold).
Stocks that Warrant a Look
Better-ranked automobile stocks include The Goodyear Tire & Rubber Company (GT - Free Report) and Gentex Corp. (GNTX - Free Report) , both carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on F - FREE
Get the latest research report on GT - FREE
Get the latest research report on LAD - FREE
Get the latest research report on GNTX - FREE