LKQ (NASDAQ:LKQ) Stock Price Up 4.4% – Still a Buy?

by · The Markets Daily

LKQ Co. (NASDAQ:LKQ – Get Free Report)’s share price was up 4.4% during mid-day trading on Monday . The company traded as high as $40.24 and last traded at $40.21. Approximately 306,563 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,928,650 shares. The stock had previously closed at $38.50.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Stifel Nicolaus cut their price target on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, October 25th. StockNews.com upgraded LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Robert W. Baird cut their target price on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and set a $60.00 price target on shares of LKQ in a report on Friday, October 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, LKQ currently has an average rating of “Buy” and an average price target of $53.80.

Read Our Latest Analysis on LKQ

LKQ Trading Up 0.3 %

The firm has a 50-day moving average of $38.70 and a 200 day moving average of $40.70. The company has a current ratio of 1.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 14.60 and a beta of 1.29.

LKQ (NASDAQ:LKQ – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities analysts predict that LKQ Co. will post 3.43 EPS for the current fiscal year.

LKQ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. LKQ’s dividend payout ratio (DPR) is 44.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in LKQ by 9.2% during the third quarter. Franklin Resources Inc. now owns 519,232 shares of the auto parts company’s stock valued at $20,401,000 after buying an additional 43,541 shares in the last quarter. Synovus Financial Corp lifted its holdings in LKQ by 11.6% in the 3rd quarter. Synovus Financial Corp now owns 15,235 shares of the auto parts company’s stock valued at $608,000 after acquiring an additional 1,588 shares during the last quarter. Tidal Investments LLC boosted its position in shares of LKQ by 3.0% during the 3rd quarter. Tidal Investments LLC now owns 32,995 shares of the auto parts company’s stock valued at $1,317,000 after purchasing an additional 947 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of LKQ in the 3rd quarter worth approximately $81,000. Finally, Sanctuary Advisors LLC raised its holdings in shares of LKQ by 22.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 33,725 shares of the auto parts company’s stock worth $1,298,000 after purchasing an additional 6,143 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors.

About LKQ

(Get Free Report)

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.

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