LKQ (NASDAQ:LKQ) Shares Up 6.1% After Better-Than-Expected Earnings

LKQ Co. (NASDAQ:LKQ)’s stock price shot up 6.1% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $42.79 and last traded at $41.81. 678,631 shares traded hands during trading, a decline of 65% from the average session volume of 1,959,232 shares. The stock had previously closed at $39.40.

The auto parts company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. LKQ had a net margin of 4.90% and a return on equity of 15.15%.

Wall Street Analyst Weigh In

LKQ has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on LKQ from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus lowered their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Barrington Research reaffirmed an “outperform” rating and set a $60.00 target price on shares of LKQ in a research note on Friday, February 14th. Finally, Robert W. Baird dropped their price target on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, LKQ currently has an average rating of “Buy” and a consensus target price of $52.40.

Insider Activity

In related news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $36.14, for a total transaction of $180,700.00. Following the sale, the director now directly owns 369,462 shares of the company’s stock, valued at $13,352,356.68. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of LKQ

A number of institutional investors have recently made changes to their positions in LKQ. Pacer Advisors Inc. lifted its position in LKQ by 112.9% during the fourth quarter. Pacer Advisors Inc. now owns 42,563 shares of the auto parts company’s stock valued at $1,564,000 after purchasing an additional 22,575 shares during the period. Nordea Investment Management AB lifted its holdings in shares of LKQ by 11.0% during the 4th quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock valued at $309,609,000 after buying an additional 833,519 shares during the period. Rehmann Capital Advisory Group purchased a new position in shares of LKQ in the 3rd quarter worth $634,000. Quantbot Technologies LP grew its holdings in shares of LKQ by 27,310.6% in the third quarter. Quantbot Technologies LP now owns 64,415 shares of the auto parts company’s stock worth $2,571,000 after acquiring an additional 64,180 shares during the period. Finally, Albert D Mason Inc. increased its position in LKQ by 33.3% during the fourth quarter. Albert D Mason Inc. now owns 42,151 shares of the auto parts company’s stock valued at $1,549,000 after acquiring an additional 10,533 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Stock Performance

The company has a market cap of $10.92 billion, a P/E ratio of 15.62 and a beta of 1.29. The company has a quick ratio of 0.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $37.51 and a two-hundred day simple moving average of $38.73.

LKQ Company Profile

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.