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 brokerages have also commented on LKQ. Raymond James dropped their target price 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 lowered LKQ from a buy rating to a hold rating in a research report on Friday, October 12th. Barrington Research restated a buy rating and issued a $45.00 price objective on shares of LKQ in a research report on Monday, October 22nd. Finally, TheStreet lowered LKQ from a b- rating to a c+ rating in a research report on Tuesday, October 23rd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. LKQ has a consensus rating of Hold and a consensus target price of $42.50.
LKQ stock traded up $0.13 during trading hours on Thursday, reaching $26.32. The stock had a trading volume of 3,611,600 shares, compared to its average volume of 3,923,162. The company has a market capitalization of $8.20 billion, a PE ratio of 14.00, a P/E/G ratio of 0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 2.65. LKQ has a 52 week low of $22.74 and a 52 week high of $43.86.
LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.56. LKQ had a return on equity of 14.55% and a net margin of 5.01%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.12 billion. On average, equities analysts predict that LKQ will post 2.21 earnings per share for the current fiscal year.
LKQ announced that its board has approved a stock buyback program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other LKQ news, insider Dominick P. Zarcone bought 2,000 shares of LKQ stock in a transaction dated Friday, October 26th. The stock was acquired at an average cost of $26.55 per share, with a total value of $53,100.00. Following the purchase, the insider now directly owns 259,080 shares in the company, valued at approximately $6,878,574. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Varun Laroyia acquired 1,000 shares of LKQ stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $26.50 per share, with a total value of $26,500.00. Following the completion of the purchase, the vice president now owns 75,673 shares in the company, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Bank of Australia grew its holdings in LKQ by 679.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 23,005 shares of the auto parts company’s stock valued at $730,000 after buying an additional 20,052 shares in the last quarter. Korea Investment CORP grew its holdings in shares of LKQ by 33,897.1% during the 2nd quarter. Korea Investment CORP now owns 92,472 shares of the auto parts company’s stock worth $2,950,000 after purchasing an additional 92,200 shares during the period. OppenheimerFunds Inc. grew its holdings in shares of LKQ by 17.8% during the 2nd quarter. OppenheimerFunds Inc. now owns 26,155 shares of the auto parts company’s stock worth $834,000 after purchasing an additional 3,960 shares during the period. AMP Capital Investors Ltd boosted its holdings in LKQ by 3.0% during the 2nd quarter. AMP Capital Investors Ltd now owns 96,726 shares of the auto parts company’s stock valued at $3,086,000 after acquiring an additional 2,800 shares during the period. Finally, BB&T Securities LLC acquired a new stake in shares of LKQ during the 2nd quarter worth about $419,000. 90.11% of the stock is owned by hedge funds and other institutional investors.
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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