LKQ Co. (NASDAQ:LKQ) has received an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $44.14.
Several equities research analysts recently issued reports on LKQ shares. Zacks Investment Research raised shares of LKQ from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday, August 7th. ValuEngine raised shares of LKQ from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. BidaskClub cut shares of LKQ from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Barrington Research reissued a “buy” rating and issued a $45.00 target price on shares of LKQ in a research report on Monday, October 22nd. Finally, Raymond James decreased their target price on shares of LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th.
Shares of LKQ stock traded up $0.10 during mid-day trading on Monday, hitting $27.77. 2,347,188 shares of the stock were exchanged, compared to its average volume of 3,851,005. LKQ has a twelve month low of $25.35 and a twelve month high of $43.86. The stock has a market capitalization of $8.67 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.65 and a quick ratio of 1.04.
LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. LKQ had a net margin of 5.01% and a return on equity of 14.55%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.12 billion. As a group, analysts forecast that LKQ will post 2.21 EPS for the current year.
LKQ declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 25th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other LKQ news, VP Varun Laroyia purchased 1,000 shares of LKQ stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $26.50 per share, with a total value of $26,500.00. Following the completion of the transaction, the vice president now directly owns 75,673 shares in the company, valued at approximately $2,005,334.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dominick P. Zarcone purchased 2,000 shares of LKQ stock in a transaction on Friday, October 26th. The shares were acquired at an average cost of $26.55 per share, for a total transaction of $53,100.00. Following the completion of the transaction, the insider now owns 259,080 shares of the company’s stock, valued at $6,878,574. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its stake in shares of LKQ by 2.5% during the second quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock valued at $112,509,000 after purchasing an additional 85,952 shares during the period. North Run Capital LP purchased a new stake in shares of LKQ during the second quarter valued at approximately $10,687,000. Marshall Wace LLP purchased a new stake in shares of LKQ during the second quarter valued at approximately $1,429,000. Bank of New York Mellon Corp raised its stake in shares of LKQ by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,619,800 shares of the auto parts company’s stock valued at $83,573,000 after purchasing an additional 9,586 shares during the period. Finally, Davy Asset Management Ltd purchased a new stake in shares of LKQ during the second quarter valued at approximately $644,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
LKQ Company Profile
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.
Further Reading: Bull Market
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