Rice Hall James & Associates LLC reduced its holdings in shares of LKQ Co. (NASDAQ:LKQ) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,214 shares of the auto parts company’s stock after selling 71,971 shares during the quarter. Rice Hall James & Associates LLC owned 0.15% of LKQ worth $12,326,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in LKQ. Investors Research Corp boosted its stake in shares of LKQ by 33.3% in the second quarter. Investors Research Corp now owns 1,600 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 400 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of LKQ by 1.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,193 shares of the auto parts company’s stock valued at $629,000 after purchasing an additional 403 shares during the period. Piedmont Investment Advisors Inc. boosted its stake in shares of LKQ by 4.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 8,961 shares of the auto parts company’s stock valued at $254,000 after purchasing an additional 405 shares during the period. World Asset Management Inc boosted its stake in shares of LKQ by 2.6% in the second quarter. World Asset Management Inc now owns 21,722 shares of the auto parts company’s stock valued at $578,000 after purchasing an additional 559 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in shares of LKQ by 2.3% in the first quarter. Commonwealth Bank of Australia now owns 31,208 shares of the auto parts company’s stock valued at $882,000 after purchasing an additional 705 shares during the period. Institutional investors own 90.72% of the company’s stock.
Several research analysts have recently weighed in on the stock. ValuEngine downgraded shares of LKQ from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. TheStreet downgraded shares of LKQ from a “b-” rating to a “c+” rating in a research note on Friday, May 10th. BidaskClub downgraded shares of LKQ from a “hold” rating to a “sell” rating in a research note on Tuesday. Barrington Research set a $43.00 target price on shares of LKQ and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Raymond James downgraded shares of LKQ from an “outperform” rating to a “market perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. LKQ has an average rating of “Hold” and an average price target of $34.50.
In other LKQ news, EVP John S. Quinn sold 10,721 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $27.04, for a total transaction of $289,895.84. Following the sale, the executive vice president now directly owns 254,674 shares of the company’s stock, valued at $6,886,384.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.
LKQ traded up $0.07 during trading on Thursday, hitting $24.82. The company had a trading volume of 58,900 shares, compared to its average volume of 3,041,323. The company has a market cap of $7.72 billion, a P/E ratio of 11.32, a PEG ratio of 0.82 and a beta of 1.33. The stock has a 50-day moving average of $26.21. The company has a current ratio of 2.20, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. LKQ Co. has a 1-year low of $22.74 and a 1-year high of $34.74.
LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.28 billion. LKQ had a net margin of 3.36% and a return on equity of 14.54%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. Sell-side analysts predict that LKQ Co. will post 2.34 earnings per share for the current year.
LKQ Company Profile
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates in four segments: Wholesale – North America, Europe, Specialty, and Self Service. 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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