BidaskClub upgraded shares of LKQ (NASDAQ:LKQ) from a strong sell rating to a sell rating in a research report released on Thursday.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of LKQ from a hold rating to a sell rating in a report on Thursday, December 13th. Barrington Research restated a buy rating and issued a $45.00 price target on shares of LKQ in a report on Monday, October 22nd. TheStreet cut shares of LKQ from a b- rating to a c+ rating in a report on Tuesday, October 23rd. Finally, Raymond James reduced their price target on shares of LKQ from $40.00 to $35.00 and set a buy rating for the company in a report on Wednesday, October 10th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $42.50.
NASDAQ:LKQ traded up $0.13 on Thursday, hitting $26.32. The company had a trading volume of 3,611,600 shares, compared to its average volume of 3,923,162. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.69 and a beta of 1.32. LKQ has a 52 week low of $22.74 and a 52 week high of $43.86. 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, meeting the Thomson Reuters’ 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%. As a group, analysts expect that LKQ will post 2.21 EPS for the current year.
LKQ declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 25th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Dominick P. Zarcone purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $26.55 per share, with a total value of $53,100.00. Following the completion of the transaction, the insider now directly owns 259,080 shares of the company’s stock, valued at $6,878,574. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Varun Laroyia purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the transaction, the vice president now directly owns 75,673 shares of the company’s stock, valued at $2,005,334.50. The disclosure for this purchase can be found here. 0.80% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in LKQ. Patriot Financial Group Insurance Agency LLC raised its position in LKQ by 2,700.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 4,200 shares of the auto parts company’s stock worth $133,000 after acquiring an additional 4,050 shares during the period. Macquarie Group Ltd. raised its position in shares of LKQ by 119.2% in the second quarter. Macquarie Group Ltd. now owns 5,700 shares of the auto parts company’s stock valued at $182,000 after purchasing an additional 3,100 shares during the period. Cerebellum GP LLC purchased a new position in LKQ during the third quarter valued at approximately $186,000. Belpointe Asset Management LLC purchased a new position in LKQ during the third quarter valued at approximately $187,000. Finally, Exane Asset Management purchased a new position in LKQ during the second quarter valued at approximately $216,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.
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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