BidaskClub upgraded shares of LKQ (NASDAQ:LKQ) from a strong sell rating to a sell rating in a report released on Thursday morning.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of LKQ from a sell rating to a hold rating in a research note on Wednesday, December 5th. TheStreet downgraded shares of LKQ from a b- rating to a c+ rating in a research note on Tuesday, October 23rd. Barrington Research reiterated a buy rating and issued a $45.00 target price on shares of LKQ in a research note on Monday, October 22nd. Finally, Raymond James cut their target price on shares of LKQ from $40.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, October 10th. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $42.50.
Shares of NASDAQ:LKQ opened at $26.32 on Thursday. LKQ has a 52-week low of $22.74 and a 52-week high of $43.86. The stock has a market capitalization of $8.20 billion, a P/E ratio of 14.00, a PEG ratio of 0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.65 and a quick ratio of 1.04.
LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. LKQ had a net margin of 5.01% and a return on equity of 14.55%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.12 billion. On average, sell-side analysts expect that LKQ will post 2.21 EPS for the current year.
LKQ declared that its board has authorized a stock buyback plan 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 repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Dominick P. Zarcone purchased 2,000 shares of the stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $26.55 per share, with a total value of $53,100.00. Following the acquisition, the insider now directly owns 259,080 shares in the company, valued at $6,878,574. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Varun Laroyia bought 1,000 shares of the stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the acquisition, the vice president now directly owns 75,673 shares of the company’s stock, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. 0.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc increased its holdings in shares of LKQ by 2.7% during the third quarter. Vanguard Group Inc now owns 30,855,717 shares of the auto parts company’s stock worth $977,201,000 after purchasing an additional 810,901 shares during the period. BlackRock Inc. increased its holdings in shares of LKQ by 4.6% during the third quarter. BlackRock Inc. now owns 19,909,212 shares of the auto parts company’s stock worth $630,523,000 after purchasing an additional 866,735 shares during the period. Capital World Investors bought a new position in shares of LKQ during the third quarter worth approximately $288,862,000. JPMorgan Chase & Co. increased its holdings in shares of LKQ by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 5,938,421 shares of the auto parts company’s stock worth $188,070,000 after purchasing an additional 181,633 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of LKQ by 26.5% during the third quarter. Nordea Investment Management AB now owns 5,075,225 shares of the auto parts company’s stock worth $160,732,000 after purchasing an additional 1,062,738 shares during the period. 90.11% of the stock is currently owned by 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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