NEW YORK ( TheStreet) -- Lithia Motors (NYSE: LAD) hit a new 52-week high Friday as it is currently trading at $24.03, above its previous 52-week high of $23.84 with 79,783 shares traded as of 10:10 a.m. ET. Average volume has been 507,300 shares over the past 30 days.

Lithia has a market cap of $492 million and is part of the services sector and specialty retail industry. Shares are up 62.3% year to date as of the close of trading on Thursday.

Lithia Motors, Inc. operates as an automotive franchisee and retailer of new and used vehicles. It sells new and used cars, and light trucks, as well as replacement parts. The company has a P/E ratio of 13.5, equal to the average specialty retail industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Lithia as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Lithia Ratings Report.

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