LKQ Corporation (LKQ) Receives “Buy” Rating from FBR & Co
FBR & Co reiterated their buy rating on shares of LKQ Corporation (NASDAQ:LKQ) in a research note issued to investors on Friday morning. FBR & Co currently has a $41.00 price objective on the auto parts company’s stock.
“Our view on LKQ has not significantly changed following the company’s 3Q17 results: We believe that this stock remains a high quality investment opportunity in the auto aftermarket that provides investors with a good insurance policy against a downturn in SAAR. The company has a diversified basket of growth opportunities in different regions and different parts categories, which we believe should provide stability to the business model. Moreover, we think that the company’s pan- European acquisition strategy is playing out as the company continues to execute small acquisitions, bolstering its market share in multiple countries. We would be looking for solid growth from the North American business during the back half based on solid execution as well as the company continuing to roll out new parts.”,” the firm’s analyst commented.
Several other research firms have also recently weighed in on LKQ. BidaskClub raised LKQ Corporation from a hold rating to a buy rating in a research report on Wednesday, July 5th. Stifel Nicolaus reissued a buy rating and set a $37.00 price objective on shares of LKQ Corporation in a research report on Thursday, July 6th. Northcoast Research cut LKQ Corporation from a buy rating to a neutral rating in a research report on Tuesday, July 25th. Zacks Investment Research cut LKQ Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Finally, Susquehanna Bancshares Inc reissued a positive rating and set a $40.00 price objective (up previously from $38.00) on shares of LKQ Corporation in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. LKQ Corporation has an average rating of Buy and an average target price of $40.67.
Shares of LKQ Corporation (NASDAQ:LKQ) opened at 36.52 on Friday. LKQ Corporation has a 1-year low of $27.85 and a 1-year high of $37.70. The stock has a 50 day moving average price of $36.26 and a 200-day moving average price of $33.45. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 22.90 and a beta of 0.85.
LKQ Corporation (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. LKQ Corporation had a return on equity of 15.10% and a net margin of 5.27%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that LKQ Corporation will post $1.87 earnings per share for the current fiscal year.
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In related news, Director A Clinton Allen sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $32.92, for a total transaction of $526,720.00. Following the transaction, the director now directly owns 196,083 shares in the company, valued at $6,455,052.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Guhan Subramanian purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $33.96 per share, for a total transaction of $135,840.00. Following the completion of the purchase, the director now directly owns 23,811 shares of the company’s stock, valued at $808,621.56. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC increased its stake in LKQ Corporation by 29.3% during the first quarter. Global X Management Co. LLC now owns 4,985 shares of the auto parts company’s stock valued at $146,000 after acquiring an additional 1,129 shares during the period. Gyroscope Capital Management Group LLC bought a new position in LKQ Corporation during the second quarter valued at about $243,000. Private Capital Management Inc. bought a new position in LKQ Corporation during the second quarter valued at about $247,000. Buffington Mohr McNeal bought a new position in LKQ Corporation during the second quarter valued at about $264,000. Finally, Achmea Investment Management B.V. bought a new position in LKQ Corporation during the first quarter valued at about $405,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.
LKQ Corporation Company Profile
LKQ Corporation (LKQ) is a 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, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.
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