LKQ (NASDAQ:LKQ) Price Target Cut to $54.00

LKQ (NASDAQ:LKQ) had its price target lowered by stock analysts at Robert W. Baird from $58.00 to $54.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the auto parts company’s stock. Robert W. Baird’s target price indicates a potential upside of 29.65% from the company’s current price.

Several other analysts have also issued reports on LKQ. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Friday, April 19th. StockNews.com lowered shares of LKQ from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of LKQ in a research report on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Finally, Roth Mkm restated a “buy” rating and set a $65.00 target price on shares of LKQ in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.60.

LKQ Stock Down 14.9 %

LKQ opened at $41.65 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $51.21 and a 200-day moving average price of $48.36. LKQ has a twelve month low of $41.46 and a twelve month high of $59.38. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 11.90 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13). The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. LKQ had a net margin of 6.75% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 earnings per share. Equities research analysts forecast that LKQ will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $51.97, for a total value of $10,394,000.00. Following the completion of the transaction, the chief executive officer now directly owns 386,522 shares in the company, valued at $20,087,548.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On LKQ

A number of hedge funds and other institutional investors have recently modified their holdings of LKQ. Norges Bank bought a new position in shares of LKQ during the fourth quarter worth $159,324,000. Boston Partners raised its stake in LKQ by 22.0% during the fourth quarter. Boston Partners now owns 7,507,873 shares of the auto parts company’s stock valued at $358,848,000 after purchasing an additional 1,351,389 shares in the last quarter. Morgan Stanley raised its stake in LKQ by 13.7% during the third quarter. Morgan Stanley now owns 9,907,659 shares of the auto parts company’s stock valued at $490,528,000 after purchasing an additional 1,195,122 shares in the last quarter. Cooke & Bieler LP raised its stake in LKQ by 95.1% during the fourth quarter. Cooke & Bieler LP now owns 2,403,053 shares of the auto parts company’s stock valued at $114,842,000 after purchasing an additional 1,171,225 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of LKQ by 9.5% in the fourth quarter. Wellington Management Group LLP now owns 11,307,753 shares of the auto parts company’s stock valued at $540,398,000 after acquiring an additional 977,585 shares during the period. Institutional investors own 95.63% of the company’s stock.

About LKQ

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 mechanical automotive parts and accessories; 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.