Separately, Robert W. Baird reissued an “outperform” rating and set a $65.00 price objective on shares of LKQ in a research note on Monday, August 28th.
LKQ Price Performance
LKQ (NASDAQ:LKQ – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.10). The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.48 billion. LKQ had a return on equity of 17.48% and a net margin of 7.13%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. On average, analysts expect that LKQ will post 3.75 earnings per share for the current fiscal year.
Insider Transactions at LKQ
In related news, CEO Dominick P. Zarcone sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $51.74, for a total transaction of $1,655,680.00. Following the sale, the chief executive officer now directly owns 495,004 shares in the company, valued at $25,611,506.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.
Hedge Funds Weigh In On LKQ
Several hedge funds have recently added to or reduced their stakes in LKQ. OFI Invest Asset Management acquired a new stake in shares of LKQ in the third quarter valued at approximately $26,000. Clear Street Markets LLC boosted its holdings in shares of LKQ by 94.1% in the first quarter. Clear Street Markets LLC now owns 497 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 241 shares during the period. Covestor Ltd boosted its holdings in shares of LKQ by 81.1% in the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 279 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in shares of LKQ in the third quarter valued at approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in shares of LKQ in the third quarter valued at approximately $34,000. 93.67% of the stock is currently owned by hedge funds and other institutional investors.
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 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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