LKQ (NASDAQ:LKQ) Lowered to Buy at StockNews.com

StockNews.com cut shares of LKQ (NASDAQ:LKQGet Rating) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

LKQ has been the subject of several other reports. Raymond James reduced their target price on shares of LKQ from $62.00 to $59.00 in a report on Monday, April 11th. Barrington Research raised shares of LKQ from a market perform rating to an outperform rating in a report on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $62.20.

Shares of NASDAQ:LKQ opened at $49.61 on Thursday. The firm’s 50 day moving average price is $47.99 and its 200-day moving average price is $52.58. LKQ has a twelve month low of $42.36 and a twelve month high of $60.43. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $14.03 billion, a PE ratio of 13.33 and a beta of 1.46.

LKQ (NASDAQ:LKQGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The auto parts company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.09. LKQ had a net margin of 8.28% and a return on equity of 20.19%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that LKQ will post 3.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, May 18th. LKQ’s dividend payout ratio (DPR) is currently 26.81%.

In related news, Director Patrick Berard sold 702 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $49.72, for a total value of $34,903.44. Following the completion of the transaction, the director now directly owns 11,806 shares of the company’s stock, valued at $586,994.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Holdings L.P. Valueact sold 5,000,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $50.35, for a total transaction of $251,750,000.00. Following the completion of the transaction, the director now directly owns 12,552,751 shares of the company’s stock, valued at $632,031,012.85. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Toroso Investments LLC lifted its position in shares of LKQ by 8.4% during the first quarter. Toroso Investments LLC now owns 9,821 shares of the auto parts company’s stock worth $446,000 after purchasing an additional 765 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of LKQ by 75.5% during the first quarter. BNP Paribas Arbitrage SA now owns 108,470 shares of the auto parts company’s stock valued at $4,926,000 after buying an additional 46,676 shares during the period. Wealthfront Advisers LLC grew its stake in LKQ by 87.4% in the first quarter. Wealthfront Advisers LLC now owns 50,662 shares of the auto parts company’s stock valued at $2,301,000 after purchasing an additional 23,625 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in LKQ in the first quarter valued at about $365,000. Finally, Point72 Hong Kong Ltd purchased a new position in LKQ in the first quarter valued at about $1,117,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

About LKQ (Get Rating)

LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through 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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