Why Lithia Motors' Stock Is Trading Higher Today

Lithia Motors, Inc. LAD shares are trading higher after the company announced it has acquired one of the largest Honda dealerships in the country, Planet Honda, located in Union, New Jersey with expected annual revenues in excess of $200 million.

This purchase brings LAD's total annualized revenues acquired to over $6.7 billion since the launch of its five-year plan 10 months ago.

Lithia Motors is a retailer of new and used vehicles and related services. The company offers 33 brands of vehicles at over 200 stores in 22 states. The company has expanded largely through the acquisition of dealerships in smaller regional markets and via deals in New York and Southern California.

Lithia Motors' stock was trading up 4.5% at $404.22 at the time of publication. The stock has a 52-week high of $417.98 and a 52-week low of $93.38.