Synovus Financial Corp grew its position in shares of LKQ Co. (NASDAQ:LKQ) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 86,447 shares of the auto parts company’s stock after purchasing an additional 3,710 shares during the period. Synovus Financial Corp’s holdings in LKQ were worth $2,732,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MAI Capital Management grew its position in LKQ by 15.0% in the second quarter. MAI Capital Management now owns 12,420 shares of the auto parts company’s stock worth $396,000 after acquiring an additional 1,619 shares in the last quarter. Montecito Bank & Trust boosted its position in LKQ by 19.2% during the second quarter. Montecito Bank & Trust now owns 10,373 shares of the auto parts company’s stock valued at $331,000 after buying an additional 1,669 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in LKQ by 8.0% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 23,495 shares of the auto parts company’s stock valued at $749,000 after buying an additional 1,744 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in LKQ by 3.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 47,786 shares of the auto parts company’s stock valued at $1,525,000 after buying an additional 1,781 shares during the period. Finally, Buffington Mohr McNeal boosted its position in LKQ by 14.2% during the second quarter. Buffington Mohr McNeal now owns 14,510 shares of the auto parts company’s stock valued at $463,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.
In other news, insider Dominick P. Zarcone acquired 2,000 shares of the stock in a transaction dated Friday, October 26th. The stock was purchased at an average cost of $26.55 per share, with a total value of $53,100.00. Following the completion of the purchase, the insider now owns 259,080 shares in the company, valued at approximately $6,878,574. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Varun Laroyia acquired 1,000 shares of the stock in a transaction dated 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 purchase, the vice president now owns 75,673 shares of the company’s stock, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several analysts have issued reports on LKQ shares. BidaskClub lowered shares of LKQ from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Zacks Investment Research lowered shares of LKQ from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Barrington Research restated a “buy” rating and set a $45.00 price target on shares of LKQ in a research report on Thursday, July 26th. ValuEngine lowered shares of LKQ from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Finally, Raymond James cut their price target on shares of LKQ from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. LKQ presently has an average rating of “Buy” and a consensus price target of $43.25.
NASDAQ LKQ opened at $27.77 on Monday. The company has a quick ratio of 1.04, a current ratio of 2.65 and a debt-to-equity ratio of 0.87. LKQ Co. has a 12-month low of $25.35 and a 12-month high of $43.86. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27.
LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, October 25th. The auto parts company reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.12 billion. LKQ had a net margin of 5.01% and a return on equity of 14.55%. Sell-side analysts predict that LKQ Co. will post 2.21 earnings per share for the current fiscal year.
LKQ declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits 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 management believes its stock is undervalued.
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.
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