LKQ (NASDAQ:LKQ) PT Lowered to $54.00

LKQ (NASDAQ:LKQ) had its price target cut by Robert W. Baird from $58.00 to $54.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

Several other research analysts also recently commented on LKQ. JPMorgan Chase & Co. lowered their price objective on shares of LKQ from $65.00 to $63.00 and set an overweight rating for the company in a research report on Thursday, January 25th. StockNews.com downgraded shares of LKQ from a buy rating to a hold rating in a report on Friday, February 23rd. Stifel Nicolaus reiterated a buy rating and set a $66.00 price target on shares of LKQ in a report on Tuesday, April 9th. Barrington Research reiterated an outperform rating and set a $60.00 price target on shares of LKQ in a report on Friday, April 19th. Finally, Roth Mkm reiterated a buy rating and set a $65.00 price target on shares of LKQ in a report on Tuesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, LKQ presently has a consensus rating of Moderate Buy and an average target price of $61.60.

LKQ Stock Up 3.9 %

NASDAQ LKQ opened at $43.28 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. LKQ has a 1-year low of $41.30 and a 1-year high of $59.38. The company has a 50 day moving average of $51.08 and a 200-day moving average of $48.30. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 14.05 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Tuesday, April 23rd. The auto parts company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). LKQ had a net margin of 5.79% and a return on equity of 15.94%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that LKQ will post 4.07 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. LKQ’s dividend payout ratio is presently 38.96%.

Insider Buying and Selling

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $51.97, for a total value of $10,394,000.00. Following the completion of the sale, the chief executive officer now owns 386,522 shares in the company, valued at approximately $20,087,548.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its holdings in LKQ by 13.1% in the 3rd quarter. CWM LLC now owns 6,581 shares of the auto parts company’s stock valued at $326,000 after purchasing an additional 762 shares during the period. Ronald Blue Trust Inc. grew its position in shares of LKQ by 90.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 843 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 401 shares in the last quarter. Hartford Investment Management Co. grew its position in shares of LKQ by 2.1% during the 3rd quarter. Hartford Investment Management Co. now owns 18,429 shares of the auto parts company’s stock valued at $912,000 after purchasing an additional 376 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of LKQ by 0.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 81,945 shares of the auto parts company’s stock valued at $4,056,000 after purchasing an additional 615 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in shares of LKQ by 167.3% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 759 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 475 shares in the last quarter. 95.63% of the stock is owned by 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.