LKQ (NASDAQ:LKQ) Stock Gets Price Target Reduction from Robert W. Baird

LKQ (NASDAQ:LKQ) had its price target lowered by Robert W. Baird from $30.00 to $23.00 in a research note issued to investors on Monday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the auto parts company’s stock.

A number of other research firms have also recently issued reports on LKQ. JPMorgan Chase & Co. lowered their target price on LKQ from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Roth Capital lowered shares of LKQ from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $18.00 in a research note on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of LKQ in a research note on Friday, October 23rd. Raymond James Financial set a $30.00 price target on shares of LKQ in a report on Friday, July 31st. Finally, Zacks Research downgraded shares of LKQ from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, LKQ has a consensus rating of “Hold” and a consensus price target of $27.07.

LKQ Stock Up 0.5%

NASDAQ:LKQ opened at $17.19 on Monday. LKQ has a 1 year low of $16.85 and a 1 year high of $37.13. The stock has a 50-day moving average price of $23.07 and a two-hundred day moving average price of $27.37. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 9.55 and a beta of 0.87. The company has a current ratio of 1.58, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, July 30th. The auto parts company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.04). LKQ had a return on equity of 10.84% and a net margin of 3.37%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts expect that LKQ will post 2.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in LKQ in the 2nd quarter valued at approximately $1,015,096,000. Pzena Investment Management LLC acquired a new position in LKQ during the 2nd quarter worth approximately $398,696,000. Nykredit A S bought a new position in shares of LKQ during the 2nd quarter worth approximately $84,795,000. Bank of New York Mellon Corp bought a new position in shares of LKQ during the 2nd quarter worth approximately $76,343,000. Finally, Bank of America Corp DE acquired a new stake in shares of LKQ in the second quarter valued at approximately $58,221,000. 95.63% of the stock is currently owned by institutional investors.

About LKQ

LKQ Corporation is a global distributor of automotive parts and accessories. The company supplies replacement parts, components and equipment to professional repair shops, collision-repair businesses, insurers, dealerships and other commercial customers. Its product offerings include recycled original-equipment parts, aftermarket parts, specialty vehicle products, tools and equipment.

LKQ’s operations include the procurement, dismantling and distribution of salvaged vehicles, allowing it to provide recycled engines, transmissions, body panels and other components.