Zacks Investment Research Lowers LKQ Corp. (LKQ) to Hold
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 brokerages have also commented on LKQ. FBR & Co reiterated an outperform rating and issued a $40.00 price target on shares of LKQ Corp. in a research note on Wednesday, October 5th. Susquehanna assumed coverage on shares of LKQ Corp. in a research note on Thursday, August 25th. They issued a positive rating and a $42.00 price target on the stock. Finally, Robert W. Baird reiterated an outperform rating and issued a $36.00 price target on shares of LKQ Corp. in a research note on Tuesday, June 28th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $38.25.
Shares of LKQ Corp. (NASDAQ:LKQ) opened at 32.96 on Tuesday. The firm has a market capitalization of $10.12 billion, a PE ratio of 22.73 and a beta of 0.72. LKQ Corp. has a 52 week low of $23.95 and a 52 week high of $36.35. The firm’s 50-day moving average is $35.10 and its 200 day moving average is $33.51.
LKQ Corp. (NASDAQ:LKQ) last issued its earnings results on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.42 billion. LKQ Corp. had a net margin of 5.59% and a return on equity of 15.82%. The firm’s revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities analysts forecast that LKQ Corp. will post $1.84 earnings per share for the current year.
In related news, CEO Robert L. Wagman sold 1,502 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $34.51, for a total transaction of $51,834.02. Following the completion of the sale, the chief executive officer now directly owns 358,654 shares of the company’s stock, valued at $12,377,149.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert L. Wagman sold 20,100 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $34.07, for a total value of $684,807.00. Following the sale, the insider now directly owns 360,456 shares of the company’s stock, valued at $12,280,735.92. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of LKQ. MSI Financial Services Inc increased its stake in shares of LKQ Corp. by 55.0% in the third quarter. MSI Financial Services Inc now owns 3,084 shares of the company’s stock valued at $109,000 after buying an additional 1,094 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in shares of LKQ Corp. during the second quarter valued at $118,000. Mizuho Asset Management Co. Ltd. increased its stake in shares of LKQ Corp. by 143.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,941 shares of the company’s stock valued at $125,000 after buying an additional 2,320 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of LKQ Corp. by 8.5% in the second quarter. Parkside Financial Bank & Trust now owns 4,197 shares of the company’s stock valued at $133,000 after buying an additional 330 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of LKQ Corp. by 21.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,951 shares of the company’s stock valued at $157,000 after buying an additional 879 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LKQ Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LKQ Corp. and related companies with MarketBeat.com's FREE daily email newsletter.