StockNews.com Upgrades LKQ (NASDAQ:LKQ) to “Buy”

LKQ (NASDAQ:LKQ) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

LKQ has been the subject of a number of other research reports. Robert W. Baird dropped their price target on LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Barrington Research reiterated an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research report on Thursday, July 25th. Finally, Roth Mkm restated a “buy” rating and issued a $65.00 price target on shares of LKQ in a research note on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $60.80.

LKQ Stock Down 2.5 %

Shares of LKQ stock opened at $38.98 on Monday. LKQ has a 12-month low of $35.57 and a 12-month high of $53.68. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average of $41.49 and a 200-day moving average of $44.82. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 12.66 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.05). The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. LKQ’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, equities research analysts predict that LKQ will post 3.6 earnings per share for the current fiscal year.

Insider Activity at LKQ

In other LKQ news, CEO Justin L. Jude acquired 2,500 shares of LKQ stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $39.91 per share, for a total transaction of $99,775.00. Following the purchase, the chief executive officer now owns 207,515 shares of the company’s stock, valued at $8,281,923.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Andrew C. Clarke acquired 7,600 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $39.70 per share, for a total transaction of $301,720.00. Following the transaction, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Justin L. Jude purchased 2,500 shares of the company’s stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $39.91 per share, with a total value of $99,775.00. Following the purchase, the chief executive officer now owns 207,515 shares of the company’s stock, valued at $8,281,923.65. The disclosure for this purchase can be found here. In the last three months, insiders have bought 12,600 shares of company stock worth $500,870. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On LKQ

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of LKQ by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,897,480 shares of the auto parts company’s stock valued at $1,650,234,000 after purchasing an additional 656,883 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in LKQ by 7.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock valued at $496,772,000 after purchasing an additional 875,420 shares in the last quarter. Wellington Management Group LLP increased 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 worth $540,398,000 after purchasing an additional 977,585 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of LKQ by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,113,931 shares of the auto parts company’s stock valued at $486,775,000 after acquiring an additional 111,124 shares in the last quarter. Finally, Boston Partners boosted its stake in LKQ by 9.5% in the 1st quarter. Boston Partners now owns 8,220,571 shares of the auto parts company’s stock worth $438,108,000 after purchasing an additional 712,698 shares during the period. 95.63% of the stock is owned by institutional investors.

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.