StockNews.com Upgrades LKQ (NASDAQ:LKQ) to Buy

StockNews.com upgraded shares of LKQ (NASDAQ:LKQ) from a hold rating to a buy rating in a report released on Monday.

A number of other brokerages have also recently weighed in on LKQ. Stifel Nicolaus dropped their price objective on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Robert W. Baird cut their price target on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Barrington Research reiterated an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research report on Thursday, September 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $53.80.

LKQ Stock Down 1.4 %

Shares of NASDAQ LKQ opened at $36.79 on Monday. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 13.73 and a beta of 1.28. LKQ has a 52 week low of $35.57 and a 52 week high of $53.68. The firm has a 50-day moving average price of $39.79 and a 200 day moving average price of $41.66. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. LKQ had a return on equity of 15.33% and a net margin of 5.03%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts anticipate that LKQ will post 3.54 EPS for the current fiscal year.

LKQ Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.26%. LKQ’s payout ratio is currently 44.78%.

Institutional Investors Weigh In On LKQ

Several hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC increased its stake in LKQ by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the auto parts company’s stock worth $244,000 after acquiring an additional 229 shares during the last quarter. Motley Fool Asset Management LLC increased its position in LKQ by 4.6% during the 1st quarter. Motley Fool Asset Management LLC now owns 5,249 shares of the auto parts company’s stock worth $280,000 after purchasing an additional 233 shares in the last quarter. Banque Cantonale Vaudoise increased its position in LKQ by 29.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock worth $50,000 after purchasing an additional 278 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in LKQ by 33.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock valued at $46,000 after buying an additional 289 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in LKQ by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 103,156 shares of the auto parts company’s stock valued at $4,118,000 after buying an additional 306 shares in the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

About LKQ

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.