Who says the boom in auto sales is over? Autos were selling well last spring until they hit the brakes as the pandemic stretched out and there were hints of rising inflation. This year though, sales have picked up again. And on Wednesday, highly ranked Lithia Motors' stock Relative Strength (RS) Rating climbed to 76, up from 70 the day before. In Wednesday afternoon trading, Lithia Motors stock was up about 1.5% to 325.
The new 76 RS Rating means that Lithia Motors stock has outperformed 76% of all stocks over the past year, moving it closer to a key technical indicator. Stocks that go on to make the biggest gains typically have an RS Rating of over 80 as they launch their largest climbs. See if Lithia Motors can continue to rebound and hit that benchmark.
Other Key Lithia Motors Ratings
Among its other key ratings, Medford, Ore.-based Lithia Motors has a near-perfect 98 EPS Rating. Its 94 Composite Rating, of 99, isn't too shabby either. Adding fuel to its sales engine, it also has a B+ Accumulation/Distribution Rating, indicating that institutional investors like mutual funds and retirement funds are fairly heavy buyers of its stock.
Regarding fundamentals, Lithia Motors earnings soared 109% in the company's latest quarterly report to $11.39 per share, up from 63% growth the prior quarter. Its revenue last quarter grew 60% year over year, to $6.31 billion. The prior three stanza its revenue grew 55%, 118% and then 70%.
Looking For The Best Stocks To Buy And Watch? Start Here
Lithia Motors stock is trying to complete a consolidation with a 418.08 buy point. See if the stock can clear the breakout price in heavy trade.
Lithia Motors earns the No. 2 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Asbury Automotive is No. 1 and Group 1 Automotive is third among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique Relative Strength Rating tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
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