LKQ (NASDAQ:LKQ) Raised to Buy at StockNews.com

StockNews.com upgraded shares of LKQ (NASDAQ:LKQ) from a hold rating to a buy rating in a report published on Thursday morning.

Several other research analysts also recently commented on LKQ. JPMorgan Chase & Co. lifted their price target on LKQ from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Barrington Research reaffirmed an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $52.60.

LKQ Price Performance

NASDAQ LKQ opened at $40.98 on Thursday. LKQ has a 1 year low of $35.56 and a 1 year high of $53.68. The company has a fifty day simple moving average of $39.72 and a 200 day simple moving average of $38.96. The company has a current ratio of 1.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.68. The company has a market cap of $10.62 billion, a P/E ratio of 15.64 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, February 20th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.42 billion. LKQ had a net margin of 4.81% and a return on equity of 14.93%. On average, sell-side analysts predict that LKQ will post 3.57 EPS for the current year.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Thursday, March 13th. LKQ’s payout ratio is presently 45.80%.

Insider Activity

In related news, Director Dominick P. Zarcone sold 15,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.32, for a total value of $634,800.00. Following the sale, the director now owns 336,135 shares of the company’s stock, valued at $14,225,233.20. The trade was a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 35,000 shares of company stock worth $1,416,300. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. acquired a new position in shares of LKQ in the 4th quarter worth approximately $165,548,000. EdgePoint Investment Group Inc. acquired a new position in LKQ during the fourth quarter worth $160,339,000. Norges Bank bought a new position in shares of LKQ during the fourth quarter valued at $119,395,000. Clarkston Capital Partners LLC acquired a new stake in shares of LKQ in the 4th quarter valued at $91,678,000. Finally, Eminence Capital LP bought a new stake in shares of LKQ in the 4th quarter worth about $68,944,000. Institutional investors own 95.63% of the company’s stock.

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.