LKQ Corporation’s (LKQ) “Buy” Rating Reaffirmed at Jefferies Group LLC
LKQ Corporation (NASDAQ:LKQ)‘s stock had its “buy” rating restated by Jefferies Group LLC in a research note issued to investors on Wednesday. They currently have a $37.00 price target on the auto parts company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 7.31% from the stock’s previous close.
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of LKQ Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of LKQ Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. FBR & Co reiterated an “outperform” rating and set a $41.00 price objective (up from $40.00) on shares of LKQ Corporation in a report on Friday, April 28th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $40.00 price objective (up from $38.00) on shares of LKQ Corporation in a report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $37.00 price objective on shares of LKQ Corporation in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. LKQ Corporation presently has an average rating of “Buy” and an average price target of $39.33.
Shares of LKQ Corporation (LKQ) traded up 0.41% during midday trading on Wednesday, hitting $34.47. 1,384,862 shares of the company’s stock were exchanged. The firm has a market cap of $10.65 billion, a PE ratio of 21.61 and a beta of 0.84. The stock’s 50-day moving average price is $32.90 and its 200 day moving average price is $31.35. LKQ Corporation has a one year low of $27.85 and a one year high of $36.35.
LKQ Corporation (NASDAQ:LKQ) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. LKQ Corporation had a net margin of 5.31% and a return on equity of 15.74%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. Equities research analysts forecast that LKQ Corporation will post $1.88 EPS for the current year.
In other news, EVP John S. Quinn sold 8,230 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $33.15, for a total transaction of $272,824.50. Following the transaction, the executive vice president now directly owns 254,726 shares in the company, valued at approximately $8,444,166.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael S. Clark sold 5,000 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $31.42, for a total transaction of $157,100.00. Following the transaction, the vice president now owns 62,885 shares in the company, valued at $1,975,846.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,230 shares of company stock worth $1,905,125. Insiders own 1.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Israel Discount Bank of New York acquired a new stake in LKQ Corporation during the first quarter worth about $102,000. Global X Management Co. LLC increased its stake in LKQ Corporation by 29.3% in the first quarter. Global X Management Co. LLC now owns 4,985 shares of the auto parts company’s stock worth $146,000 after buying an additional 1,129 shares during the period. Pacer Advisors Inc. increased its stake in LKQ Corporation by 3.5% in the first quarter. Pacer Advisors Inc. now owns 5,387 shares of the auto parts company’s stock worth $158,000 after buying an additional 181 shares during the period. Private Advisor Group LLC acquired a new stake in LKQ Corporation during the first quarter worth about $163,000. Finally, State of Alaska Department of Revenue acquired a new stake in LKQ Corporation during the first quarter worth about $210,000. 91.81% of the stock is owned by hedge funds and other institutional investors.
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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