LKQ Corporation’s (LKQ) “Buy” Rating Reaffirmed at Robert W. Baird
A number of other equities research analysts have also recently weighed in on LKQ. BidaskClub cut LKQ Corporation from a strong-buy rating to a buy rating in a research note on Monday, October 23rd. Jefferies Group LLC boosted their price objective on LKQ Corporation from $37.00 to $42.00 and gave the company a buy rating in a research note on Monday, October 2nd. Susquehanna Bancshares Inc reiterated a positive rating and issued a $40.00 price objective (up previously from $38.00) on shares of LKQ Corporation in a research note on Monday, July 31st. Stifel Nicolaus reiterated a buy rating and issued a $37.00 price objective on shares of LKQ Corporation in a research note on Thursday, July 6th. Finally, Zacks Investment Research cut LKQ Corporation from a hold rating to a sell rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $40.67.
LKQ Corporation (LKQ) opened at 36.52 on Friday. LKQ Corporation has a one year low of $27.85 and a one year high of $37.70. The firm has a market cap of $11.28 billion, a P/E ratio of 22.90 and a beta of 0.85. The company has a 50-day moving average of $36.26 and a 200 day moving average of $33.45.
LKQ Corporation (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. 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 Guhan Subramanian purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was acquired 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Victor M. Casini sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $36.82, for a total value of $920,500.00. Following the sale, the vice president now owns 213,884 shares of the company’s stock, valued at approximately $7,875,208.88. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC grew its holdings 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 worth $146,000 after acquiring an additional 1,129 shares during the period. Gyroscope Capital Management Group LLC acquired a new position in LKQ Corporation during the second quarter worth $243,000. Private Capital Management Inc. acquired a new position in LKQ Corporation during the second quarter worth $247,000. Buffington Mohr McNeal acquired a new position in LKQ Corporation during the second quarter worth $264,000. Finally, Achmea Investment Management B.V. acquired a new position in LKQ Corporation during the first quarter worth $405,000. Institutional investors and hedge funds own 92.56% of the company’s stock.
About LKQ Corporation
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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