LKQ (NASDAQ:LKQ) Price Target Lowered to $54.00 at Robert W. Baird

LKQ (NASDAQ:LKQ) had its target price cut by Robert W. Baird from $58.00 to $54.00 in a research report report published on Wednesday, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

LKQ has been the topic of a number of other research reports. StockNews.com lowered LKQ from a buy rating to a hold rating in a report on Friday, February 23rd. Barrington Research reaffirmed an outperform rating and set a $60.00 price objective on shares of LKQ in a report on Friday, April 19th. Roth Mkm reaffirmed a buy rating and set a $65.00 price objective on shares of LKQ in a report on Tuesday. Stifel Nicolaus reaffirmed a buy rating and set a $66.00 price objective on shares of LKQ in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. dropped their price objective on LKQ from $65.00 to $63.00 and set an overweight rating on the stock in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $61.60.

LKQ Price Performance

Shares of NASDAQ LKQ opened at $43.28 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. LKQ has a twelve month low of $41.30 and a twelve month high of $59.38. The stock has a 50 day moving average of $51.08 and a two-hundred day moving average of $48.30. The stock has a market cap of $11.55 billion, a P/E ratio of 14.05 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. LKQ had a net margin of 5.79% and a return on equity of 15.94%. LKQ’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, research analysts forecast that LKQ will post 4.07 earnings per share for the current year.

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.77%. LKQ’s payout ratio is currently 38.96%.

Insider Activity at LKQ

In related news, CEO Dominick P. Zarcone sold 200,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the sale, the chief executive officer now directly owns 386,522 shares in the company, valued at approximately $20,087,548.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On LKQ

A number of institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in LKQ during the 4th quarter valued at approximately $159,324,000. Boston Partners boosted its position in LKQ by 22.0% during the 4th quarter. Boston Partners now owns 7,507,873 shares of the auto parts company’s stock valued at $358,848,000 after purchasing an additional 1,351,389 shares during the period. Morgan Stanley boosted its position in LKQ by 13.7% during the 3rd quarter. Morgan Stanley now owns 9,907,659 shares of the auto parts company’s stock valued at $490,528,000 after purchasing an additional 1,195,122 shares during the period. Cooke & Bieler LP boosted its position in LKQ by 95.1% during the 4th quarter. Cooke & Bieler LP now owns 2,403,053 shares of the auto parts company’s stock valued at $114,842,000 after purchasing an additional 1,171,225 shares during the period. Finally, Wellington Management Group LLP boosted its position in LKQ by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 11,307,753 shares of the auto parts company’s stock valued at $540,398,000 after purchasing an additional 977,585 shares during the period. 95.63% of the stock is currently 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.