LKQ (NASDAQ:LKQ) Director Purchases $191,500.00 in Stock

LKQ Corporation (NASDAQ:LKQ) Director Michael Scott Powell acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average cost of $19.15 per share, for a total transaction of $191,500.00. Following the purchase, the director owned 20,998 shares of the company’s stock, valued at $402,111.70. This represents a 90.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

LKQ Stock Down 3.4%

Shares of NASDAQ:LKQ traded down $0.67 on Tuesday, reaching $19.26. The company had a trading volume of 5,822,341 shares, compared to its average volume of 3,272,886. LKQ Corporation has a 52-week low of $16.85 and a 52-week high of $37.13. The firm’s 50 day simple moving average is $22.65 and its 200-day simple moving average is $27.15. The firm has a market capitalization of $4.86 billion, a PE ratio of 19.26 and a beta of 0.87. The company has a current ratio of 1.58, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52.

LKQ (NASDAQ:LKQ) last posted its earnings results on Thursday, October 29th. The auto parts company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.08). The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.36 billion. LKQ had a net margin of 3.37% and a return on equity of 10.84%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. As a group, analysts expect that LKQ Corporation will post 2.26 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.2%. LKQ’s dividend payout ratio (DPR) is 120.00%.

More LKQ News

Here are the key news stories impacting LKQ this week:

• Positive Sentiment: Director Andrew Clarke bought 21,800 shares for about $400,000, increasing his stake by 62.2%. SEC filing
• Positive Sentiment: Director Michael Scott Powell purchased 10,000 shares for $191,500, nearly doubling his position. These insider buys may signal confidence in the company. SEC filing
• Negative Sentiment: LKQ’s consensus price target was reported down 16.53% to $27.19, indicating analysts have lowered their expectations. Price target report
• Negative Sentiment: Multiple law firms announced investigations into potential securities-law violations, citing allegations that LKQ may have issued materially misleading business information. These are investigations, not findings of wrongdoing. Investigation announcement
• Negative Sentiment: Trading data showed a sharp spike in LKQ put-option purchases, which may reflect increased hedging or bearish positioning by options traders.
• Negative Sentiment: A separate report said the price target for LKQ depositary receipts was cut 20.11% to R$132.65. Depositary receipt target report

Analyst Ratings Changes

LKQ has been the subject of several analyst reports. Robert W. Baird lowered their price objective on LKQ from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Monday, October 26th. Weiss Ratings cut LKQ from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Stephens cut their price target on LKQ from $39.00 to $36.50 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Roth Capital lowered LKQ from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $18.00 in a research report on Monday, October 26th. Finally, JPMorgan Chase & Co. decreased their price objective on LKQ from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of LKQ during the 2nd quarter worth approximately $1,015,096,000. Pzena Investment Management LLC lifted its stake in LKQ by 49.0% in the 3rd quarter. Pzena Investment Management LLC now owns 22,556,858 shares of the auto parts company’s stock valued at $514,973,000 after buying an additional 7,414,573 shares in the last quarter. Nykredit A S acquired a new stake in LKQ during the 2nd quarter valued at $84,795,000. Bank of New York Mellon Corp acquired a new stake in LKQ during the 2nd quarter valued at $76,343,000. Finally, Bank of America Corp DE purchased a new position in LKQ during the second quarter worth $58,221,000. Institutional investors and hedge funds own 95.63% of the company’s stock.

About LKQ

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.