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Lithia & Driveway (NYSE:LAD) today announced the acquisition of Rockwall Hyundai in Rockwall, Texas, as part of the company’s continued strategic network expansion and brings an estimated $75 million in annualized
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Filed: 2026-09-25 AccNo: 0001023128-26-000053 Size: 1 MB Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers Item 9.01: Financial Statements and Exhibits
Citigroup analyst Michael Ward maintains Lithia Motors (NYSE:LAD) with a Buy and lowers the price target from $455 to $409.
The auto retail and wholesale industry is navigating a challenging landscape with resilient demand but rising affordability concerns. While tighter inventory supports dealer pricing power, elevated vehicle prices, rising borrowing costs, and a struggling EV market—following the expiration of federal tax credits—create headwinds. However, companies like Penske Automotive and Lithia Motors are better positioned through strategic acquisitions, digitization, and shareholder-friendly capital allocation.
Lithia & Driveway announced the acquisition of Rockwall Hyundai in Texas, expected to generate $75 million in annualized revenue, bringing year-to-date acquisitions to $915 million. The company also reported repurchasing approximately 1.9 million shares year-to-date for $541 million, representing 8.1% of outstanding shares, with $580 million remaining under authorization.