Bronfman E.L. Rothschild L.P. grew its stake in shares of LKQ Co. (NASDAQ:LKQ) by 13.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,821 shares of the auto parts company’s stock after acquiring an additional 3,425 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in LKQ were worth $913,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of LKQ by 2.5% in the second quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock worth $112,509,000 after buying an additional 85,952 shares in the last quarter. North Run Capital LP purchased a new stake in shares of LKQ in the second quarter worth $10,687,000. Marshall Wace LLP purchased a new stake in shares of LKQ in the second quarter worth $1,429,000. Oakbrook Investments LLC raised its position in shares of LKQ by 39.0% in the third quarter. Oakbrook Investments LLC now owns 33,865 shares of the auto parts company’s stock worth $1,073,000 after buying an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of LKQ by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 2,619,800 shares of the auto parts company’s stock worth $83,573,000 after buying an additional 9,586 shares in the last quarter. Hedge funds and other institutional investors own 90.09% of the company’s stock.
In related news, insider Dominick P. Zarcone acquired 2,000 shares of LKQ stock in a transaction dated Friday, October 26th. The shares were 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 of the company’s stock, valued at $6,878,574. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Varun Laroyia acquired 1,000 shares of LKQ stock in a transaction dated Friday, October 26th. The shares were bought at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the purchase, the vice president now directly 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. 0.80% of the stock is currently owned by company insiders.
A number of research firms have weighed in on LKQ. Raymond James lowered their price target on LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Zacks Investment Research downgraded LKQ from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. ValuEngine downgraded LKQ from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. TheStreet downgraded LKQ from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Finally, BidaskClub downgraded LKQ from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $43.25.
NASDAQ LKQ opened at $26.66 on Thursday. LKQ Co. has a twelve month low of $25.35 and a twelve month high of $43.86. The company has a current ratio of 2.65, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.85 and a beta of 1.28.
LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.56. LKQ had a return on equity of 14.55% and a net margin of 5.01%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.12 billion. On average, analysts predict that LKQ Co. will post 2.21 EPS for the current fiscal year.
LKQ declared that its Board of Directors has initiated a share buyback plan on Thursday, October 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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.
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