LKQ (NASDAQ:LKQ) Upgraded to “Buy” by Zacks Investment Research

LKQ (NASDAQ:LKQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, January 8th. The firm presently has a $47.00 price objective on the auto parts company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.83% from the company’s previous close.

According to Zacks, “In December, LKQ Corp signed an agreement to acquire the German spare-parts distributor Stahlgruber. This acquisition is in sync with its strategy to expand its presence in Europe through acquisitions and new branch openings for counter sales and distribution centers. In third-quarter 2017, LKQ Corp acquired 11 companies. Moreover, the company expects positive growth in its organic sales in fiscal 2017. LKQ Corp is changing the payment allocation for sales representatives, thus lowering its operational costs. Also, in the last three months, the company has outperformed in the industry it belongs to.”

LKQ has been the subject of a number of other research reports. BidaskClub cut shares of LKQ from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Jefferies Group reiterated a “buy” rating and set a $43.00 price target on shares of LKQ in a report on Sunday, October 29th. Robert W. Baird reiterated a “buy” rating and set a $47.00 price target on shares of LKQ in a report on Friday, December 22nd. Wellington Shields downgraded shares of LKQ from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Wolfe Research initiated coverage on shares of LKQ in a report on Tuesday, November 7th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $43.89.

LKQ (NASDAQ:LKQ) opened at $40.93 on Monday. The company has a current ratio of 2.82, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75. The stock has a market cap of $12,910.00, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.22 and a beta of 0.93. LKQ has a 52-week low of $27.85 and a 52-week high of $43.86.

In other news, Director William M. Iv Webster sold 100,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $40.02, for a total transaction of $4,002,000.00. Following the transaction, the director now directly owns 119,222 shares of the company’s stock, valued at $4,771,264.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael S. Clark sold 7,500 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $40.07, for a total transaction of $300,525.00. Following the transaction, the vice president now directly owns 61,860 shares in the company, valued at $2,478,730.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,801 shares of company stock worth $5,811,690. 1.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LKQ. First Personal Financial Services raised its holdings in LKQ by 194.0% in the fourth quarter. First Personal Financial Services now owns 3,852 shares of the auto parts company’s stock valued at $157,000 after acquiring an additional 2,542 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in LKQ in the fourth quarter valued at $203,000. Conning Inc. acquired a new stake in LKQ in the fourth quarter valued at $217,000. Zions Bancorporation acquired a new stake in LKQ in the third quarter valued at $197,000. Finally, CENTRAL TRUST Co raised its holdings in LKQ by 323.7% in the fourth quarter. CENTRAL TRUST Co now owns 7,093 shares of the auto parts company’s stock valued at $289,000 after acquiring an additional 5,419 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.

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LKQ Company Profile

LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.

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