LKQ (NASDAQ:LKQ) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered LKQ from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Barrington Research reiterated a “buy” rating on shares of LKQ in a research report on Friday, December 14th. TheStreet lowered LKQ from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Finally, Raymond James reduced their price objective on LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $42.50.
NASDAQ LKQ traded up $0.13 during trading on Thursday, reaching $26.32. The company’s stock had a trading volume of 3,611,644 shares, compared to its average volume of 3,923,162. The company has a quick ratio of 1.04, a current ratio of 2.65 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $8.20 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.69 and a beta of 1.32. LKQ has a one year low of $22.74 and a one year high of $43.86.
LKQ (NASDAQ:LKQ) last announced 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 for the quarter, compared to analyst estimates of $3.12 billion. LKQ had a return on equity of 14.55% and a net margin of 5.01%. As a group, research analysts anticipate that LKQ will post 2.21 EPS for the current fiscal year.
LKQ announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 25th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the auto parts company to purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Dominick P. Zarcone bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $26.55 per share, for a total transaction of $53,100.00. Following the acquisition, the insider now directly owns 259,080 shares of the company’s stock, valued at approximately $6,878,574. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Varun Laroyia bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $26.50 per share, with a total value of $26,500.00. Following the completion of the acquisition, the vice president now directly owns 75,673 shares in the company, valued at $2,005,334.50. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in LKQ by 4.6% during the 3rd quarter. BlackRock Inc. now owns 19,909,212 shares of the auto parts company’s stock valued at $630,523,000 after acquiring an additional 866,735 shares during the period. Northern Trust Corp boosted its holdings in LKQ by 2.5% during the 2nd quarter. Northern Trust Corp now owns 3,526,926 shares of the auto parts company’s stock valued at $112,509,000 after acquiring an additional 85,952 shares during the period. Marshall Wace LLP purchased a new stake in LKQ in the 2nd quarter worth approximately $1,429,000. Quantbot Technologies LP lifted its holdings in LKQ by 183.5% in the 3rd quarter. Quantbot Technologies LP now owns 12,903 shares of the auto parts company’s stock worth $408,000 after buying an additional 8,352 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in LKQ by 19.0% in the 4th quarter. Fulton Bank N.A. now owns 34,693 shares of the auto parts company’s stock worth $823,000 after buying an additional 5,528 shares during the period. Institutional investors own 90.11% of the company’s stock.
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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