LKQ (NASDAQ:LKQ) Hits New 52-Week Low After Earnings Miss

LKQ Co. (NASDAQ:LKQ)’s share price reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $41.30 and last traded at $42.53, with a volume of 645581 shares. The stock had previously closed at $41.65.

The auto parts company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. LKQ had a net margin of 6.75% and a return on equity of 17.24%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. LKQ’s dividend payout ratio (DPR) is currently 34.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LKQ. StockNews.com lowered shares of LKQ from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Friday, April 19th. Robert W. Baird dropped their target price on shares of LKQ from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Finally, Roth Mkm restated a “buy” rating and issued a $65.00 price objective on shares of LKQ in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

Insider Activity at LKQ

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the completion of the sale, the chief executive officer now owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On LKQ

A number of large investors have recently added to or reduced their stakes in LKQ. Norges Bank bought a new stake in LKQ in the 4th quarter worth approximately $159,324,000. Boston Partners boosted its stake in shares of LKQ by 22.0% during the 4th quarter. Boston Partners now owns 7,507,873 shares of the auto parts company’s stock worth $358,848,000 after acquiring an additional 1,351,389 shares during the last quarter. Morgan Stanley boosted its stake in shares of LKQ by 13.7% during the 3rd quarter. Morgan Stanley now owns 9,907,659 shares of the auto parts company’s stock worth $490,528,000 after acquiring an additional 1,195,122 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of LKQ by 95.1% during the 4th quarter. Cooke & Bieler LP now owns 2,403,053 shares of the auto parts company’s stock worth $114,842,000 after acquiring an additional 1,171,225 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of LKQ by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 11,307,753 shares of the auto parts company’s stock worth $540,398,000 after acquiring an additional 977,585 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

LKQ Stock Up 3.9 %

The company’s 50 day moving average price is $51.08 and its two-hundred day moving average price is $48.30. The firm has a market cap of $11.55 billion, a PE ratio of 12.37 and a beta of 1.28. The company has a current ratio of 1.47, a quick ratio of 0.53 and a debt-to-equity ratio of 0.59.

LKQ Company Profile

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; 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.