LKQ (NASDAQ:LKQ) Shares Down 3.6% – Here’s Why

LKQ Co. (NASDAQ:LKQ) shares were down 3.6% on Thursday . The company traded as low as $38.61 and last traded at $38.46. Approximately 473,448 shares changed hands during trading, a decline of 79% from the average daily volume of 2,280,436 shares. The stock had previously closed at $39.92.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LKQ shares. Wall Street Zen downgraded shares of LKQ from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price target on shares of LKQ from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Barrington Research reissued an “outperform” rating and set a $60.00 price target on shares of LKQ in a research note on Monday, April 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, LKQ currently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

LKQ Price Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.71 and a quick ratio of 0.67. The stock has a market cap of $10.09 billion, a P/E ratio of 14.92 and a beta of 0.98. The company’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $39.57.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, April 24th. The auto parts company reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. LKQ had a net margin of 4.81% and a return on equity of 14.93%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that LKQ Co. will post 3.57 earnings per share for the current year.

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.07%. The ex-dividend date was Thursday, May 15th. LKQ’s payout ratio is presently 44.78%.

Insider Buying and Selling at LKQ

In other news, Director Dominick P. Zarcone sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $42.15, for a total value of $632,250.00. Following the completion of the transaction, the director now owns 321,135 shares in the company, valued at $13,535,840.25. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Justin L. Jude purchased 2,708 shares of LKQ stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $36.99 per share, with a total value of $100,168.92. Following the acquisition, the chief executive officer now directly owns 280,777 shares of the company’s stock, valued at approximately $10,385,941.23. This trade represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clarkston Capital Partners LLC acquired a new position in shares of LKQ in the fourth quarter valued at approximately $91,678,000. Aquatic Capital Management LLC boosted its holdings in LKQ by 53.2% during the fourth quarter. Aquatic Capital Management LLC now owns 19,298 shares of the auto parts company’s stock worth $709,000 after purchasing an additional 6,698 shares during the last quarter. Islay Capital Management LLC acquired a new position in LKQ during the fourth quarter worth $559,000. LPL Financial LLC boosted its holdings in LKQ by 10.4% during the fourth quarter. LPL Financial LLC now owns 126,729 shares of the auto parts company’s stock worth $4,657,000 after purchasing an additional 11,975 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new position in LKQ during the fourth quarter worth $367,000. Institutional investors and hedge funds 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.