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 research note released on Wednesday. The brokerage currently has $40.00 price target 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. “
Several other equities analysts also recently issued reports on LKQ. Sterne Agee CRT reiterated a buy rating and issued a $40.00 price objective on shares of LKQ Corp. in a research report on Thursday, May 26th. Robert W. Baird reiterated an outperform rating and issued a $36.00 price objective on shares of LKQ Corp. in a research report on Tuesday, June 28th. Finally, Susquehanna started coverage on LKQ Corp. in a research report on Thursday, August 25th. They issued a positive rating and a $42.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $38.00.
LKQ Corp. (NASDAQ:LKQ) opened at 35.62 on Wednesday. LKQ Corp. has a 1-year low of $23.95 and a 1-year high of $36.35. The company has a 50-day moving average of $35.40 and a 200-day moving average of $33.06. The company has a market capitalization of $10.94 billion, a P/E ratio of 24.57 and a beta of 0.74.
LKQ Corp. (NASDAQ:LKQ) last posted its earnings results on Thursday, July 28th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The business earned $2.45 billion during the quarter, compared to the consensus estimate of $2.42 billion. LKQ Corp. had a return on equity of 15.82% and a net margin of 5.59%. LKQ Corp.’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Equities analysts expect that LKQ Corp. will post $1.84 EPS for the current fiscal year.
In related news, insider Robert L. Wagman sold 20,100 shares of LKQ Corp. stock in a transaction on Friday, July 29th. The stock was sold at an average price of $34.07, for a total transaction of $684,807.00. Following the completion of the sale, the insider now directly owns 360,456 shares of the company’s stock, valued at $12,280,735.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph M. Holsten sold 16,000 shares of LKQ Corp. stock in a transaction on Friday, August 26th. The stock was sold at an average price of $36.00, for a total value of $576,000.00. Following the sale, the director now directly owns 280,447 shares of the company’s stock, valued at $10,096,092. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of LKQ Corp. during the second quarter worth approximately $393,000. Kentucky Retirement Systems acquired a new position in LKQ Corp. during the second quarter worth about $827,000. Mason Street Advisors LLC acquired a new position in LKQ Corp. during the second quarter worth about $1,309,000. Public Employees Retirement System of Ohio boosted its position in LKQ Corp. by 9.2% in the second quarter. Public Employees Retirement System of Ohio now owns 482,963 shares of the company’s stock worth $15,310,000 after buying an additional 40,713 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in LKQ Corp. by 0.7% in the second quarter. Sterling Capital Management LLC now owns 301,749 shares of the company’s stock worth $9,565,000 after buying an additional 2,230 shares during the last quarter. 91.63% of the stock is owned by institutional investors and hedge funds.
LKQ Corp. Company Profile
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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