LKQ Corp. (LKQ) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of LKQ Corp. (NASDAQ:LKQ) from a hold rating to a buy rating in a report published on Wednesday morning. The brokerage currently has $40.00 price objective on the stock.
According to Zacks, “LKQ Corp is the largest nationwide provider of recycled OEM automotive replacement parts and related services, with sales and processing facilities and redistribution centers that reach most major markets in the United States. “
A number of other equities research analysts have also recently issued reports on LKQ. Sterne Agee CRT reissued a buy rating and set a $40.00 target price on shares of LKQ Corp. in a report on Thursday, May 26th. Robert W. Baird restated an outperform rating and set a $36.00 price target on shares of LKQ Corp. in a research report on Tuesday, June 28th. Finally, Susquehanna began coverage on shares of LKQ Corp. in a research report on Thursday, August 25th. They set a positive rating and a $42.00 price target for the company. Ten research analysts have rated the stock with a buy rating, LKQ Corp. presently has an average rating of Buy and an average price target of $38.00.
Shares of LKQ Corp. (NASDAQ:LKQ) opened at 35.62 on Wednesday. The firm has a market cap of $10.94 billion, a PE ratio of 24.57 and a beta of 0.74. LKQ Corp. has a 12 month low of $23.95 and a 12 month high of $36.35. The stock’s 50 day moving average is $35.40 and its 200 day moving average is $33.06.
LKQ Corp. (NASDAQ:LKQ) last issued its earnings results on Thursday, July 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. LKQ Corp. had a net margin of 5.59% and a return on equity of 15.82%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, analysts anticipate that LKQ Corp. will post $1.84 earnings per share for the current fiscal year.
In related news, CEO Robert L. Wagman sold 1,502 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $34.51, for a total value of $51,834.02. Following the completion of the transaction, the chief executive officer now directly owns 358,654 shares of the company’s stock, valued at $12,377,149.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph M. Holsten sold 3,520 shares of the stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $33.38, for a total transaction of $117,497.60. Following the completion of the transaction, the director now directly owns 264,447 shares of the company’s stock, valued at $8,827,240.86. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in LKQ Corp. during the fourth quarter worth about $84,126,000. Chevy Chase Trust Holdings Inc. increased its position in LKQ Corp. by 37.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 171,892 shares of the company’s stock worth $5,489,000 after buying an additional 46,981 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in LKQ Corp. by 9.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 94,125 shares of the company’s stock worth $3,005,000 after buying an additional 8,456 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in LKQ Corp. by 1.9% in the first quarter. Independent Portfolio Consultants Inc. now owns 11,145 shares of the company’s stock worth $356,000 after buying an additional 205 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in LKQ Corp. during the first quarter worth about $492,000. 91.63% of the stock is owned by institutional investors.
About LKQ Corp.
LKQ Corporation (LKQ) is a global distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories. The company distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, and recycled collision and mechanical products.
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