LKQ Corporation (NASDAQ:LKQ – Get Free Report) Director Sue Gove bought 9,795 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average price of $20.53 per share, for a total transaction of $201,091.35. Following the completion of the transaction, the director owned 20,793 shares in the company, valued at $426,880.29. This trade represents a 89.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
LKQ Stock Down 2.4%
Shares of LKQ stock opened at $20.05 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.75 and a quick ratio of 0.67. LKQ Corporation has a 1-year low of $16.85 and a 1-year high of $37.13. The business’s fifty day moving average price is $22.22 and its two-hundred day moving average price is $26.89. The company has a market capitalization of $5.06 billion, a P/E ratio of 20.05 and a beta of 0.87.
LKQ (NASDAQ:LKQ – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.08). The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.36 billion. LKQ had a return on equity of 9.57% and a net margin of 1.89%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. As a group, research analysts forecast that LKQ Corporation will post 2.21 EPS for the current year.
LKQ Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $1.20 annualized dividend and a yield of 6.0%. LKQ’s dividend payout ratio (DPR) is presently 120.00%.
Analyst Upgrades and Downgrades
LKQ has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of LKQ from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, November 2nd. Zacks Research downgraded LKQ from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on LKQ from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Raymond James Financial set a $30.00 price objective on LKQ in a report on Friday, July 31st. Finally, Barclays raised LKQ from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a research note on Monday, October 26th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, LKQ currently has a consensus rating of “Hold” and an average target price of $26.07.
Institutional Trading of LKQ
Several institutional investors and hedge funds have recently added to or reduced their stakes in LKQ. BlackRock Inc. bought a new position in shares of LKQ in the second quarter valued at $1,015,096,000. Pzena Investment Management LLC boosted its stake in shares of LKQ by 49.0% during the 3rd quarter. Pzena Investment Management LLC now owns 22,556,858 shares of the auto parts company’s stock worth $514,973,000 after acquiring an additional 7,414,573 shares in the last quarter. Nykredit A S bought a new stake in shares of LKQ during the 2nd quarter worth $84,795,000. Bank of New York Mellon Corp acquired a new position in shares of LKQ in the 2nd quarter worth $76,343,000. Finally, Bank of America Corp DE acquired a new position in shares of LKQ in the 2nd quarter worth $58,221,000. 95.63% of the stock is owned by institutional investors and hedge funds.
LKQ Company Profile
LKQ Corporation is a global distributor of automotive parts and accessories. The company supplies replacement parts, components and equipment to professional repair shops, collision-repair businesses, insurers, dealerships and other commercial customers. Its product offerings include recycled original-equipment parts, aftermarket parts, specialty vehicle products, tools and equipment.
LKQ’s operations include the procurement, dismantling and distribution of salvaged vehicles, allowing it to provide recycled engines, transmissions, body panels and other components.
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