LKQ (NASDAQ:LKQ) Trading 0.2% Higher – Here’s Why

LKQ Co. (NASDAQ:LKQ) shares were up 0.2% during mid-day trading on Friday . The company traded as high as $39.41 and last traded at $39.22. Approximately 236,156 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,933,702 shares. The stock had previously closed at $39.13.

Wall Street Analyst Weigh In

LKQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Robert W. Baird lowered their target price on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Barrington Research reiterated an “outperform” rating and set a $60.00 price target on shares of LKQ in a research note on Friday, October 25th. Stifel Nicolaus lowered their price objective on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com raised LKQ from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.80.

LKQ Stock Performance

The company’s 50 day simple moving average is $38.62 and its 200 day simple moving average is $40.64. The stock has a market cap of $10.21 billion, a PE ratio of 14.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. LKQ had a return on equity of 15.15% and a net margin of 4.90%. LKQ’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Analysts expect that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 3.05%. LKQ’s payout ratio is currently 44.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in LKQ in the 3rd quarter worth about $45,733,000. Seizert Capital Partners LLC raised its position in shares of LKQ by 451.1% in the third quarter. Seizert Capital Partners LLC now owns 1,327,664 shares of the auto parts company’s stock valued at $53,000,000 after purchasing an additional 1,086,758 shares during the period. Millennium Management LLC lifted its stake in shares of LKQ by 552.8% during the 2nd quarter. Millennium Management LLC now owns 1,236,158 shares of the auto parts company’s stock valued at $51,412,000 after buying an additional 1,046,805 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in LKQ by 7.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock worth $496,772,000 after buying an additional 875,420 shares during the period. Finally, Cooke & Bieler LP grew its stake in LKQ by 39.8% in the 2nd quarter. Cooke & Bieler LP now owns 3,067,772 shares of the auto parts company’s stock valued at $127,589,000 after buying an additional 873,665 shares in the last quarter. 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.