LKQ (NASDAQ:LKQ) Cut to Hold at StockNews.com

LKQ (NASDAQ:LKQ) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other analysts have also recently weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $60.00 price objective on shares of LKQ in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Roth Mkm reissued a “buy” rating and set a $59.00 price objective on shares of LKQ in a report on Thursday, September 12th. Finally, Robert W. Baird cut their price objective on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, LKQ currently has an average rating of “Moderate Buy” and an average price target of $58.00.

LKQ Stock Down 1.5 %

Shares of LKQ stock opened at $40.43 on Tuesday. LKQ has a 52-week low of $35.57 and a 52-week high of $53.68. The company has a 50 day moving average of $41.39 and a 200 day moving average of $44.55. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $10.79 billion, a P/E ratio of 13.13 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). LKQ had a return on equity of 15.33% and a net margin of 5.03%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that LKQ will post 3.6 EPS for the current fiscal year.

Insider Activity

In other LKQ news, Director Andrew C. Clarke bought 7,600 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $39.70 per share, with a total value of $301,720.00. Following the acquisition, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Andrew C. Clarke acquired 7,600 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the transaction, the director now directly owns 10,519 shares in the company, valued at approximately $417,604.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Justin L. Jude acquired 2,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $39.91 per share, for a total transaction of $99,775.00. Following the completion of the transaction, the chief executive officer now owns 207,515 shares in the company, valued at $8,281,923.65. The disclosure for this purchase can be found here. Insiders have acquired 12,600 shares of company stock valued at $500,870 in the last ninety days. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LKQ

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC purchased a new position in LKQ in the 2nd quarter valued at $33,000. CVA Family Office LLC grew its position in LKQ by 54.2% in the 1st quarter. CVA Family Office LLC now owns 825 shares of the auto parts company’s stock valued at $44,000 after buying an additional 290 shares during the last quarter. Quarry LP boosted its position in shares of LKQ by 65.1% during the 4th quarter. Quarry LP now owns 900 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 355 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of LKQ during the 1st quarter worth $56,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of LKQ by 29.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock worth $50,000 after purchasing an additional 278 shares in the last quarter. 95.63% of the stock is currently owned by hedge funds and other 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.