LKQ (NASDAQ:LKQ) Director Michael Scott Powell Acquires 10,000 Shares of Stock

LKQ Corporation (NASDAQ:LKQ) Director Michael Scott Powell bought 10,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were bought at an average price of $19.15 per share, for a total transaction of $191,500.00. Following the completion of the acquisition, the director directly owned 20,998 shares in the company, valued at approximately $402,111.70. This trade represents a 90.93% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

LKQ Stock Performance

Shares of LKQ opened at $19.26 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.75. LKQ Corporation has a twelve month low of $16.85 and a twelve month high of $37.13. The firm’s 50 day moving average price is $22.52 and its two-hundred day moving average price is $27.08. The firm has a market cap of $4.86 billion, a P/E ratio of 8.20 and a beta of 0.87.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, October 29th. The auto parts company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.08). LKQ had a net margin of 1.89% and a return on equity of 9.57%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the company earned $0.84 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts forecast that LKQ Corporation will post 2.22 EPS for the current fiscal year.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Thursday, November 19th. LKQ’s payout ratio is currently 120.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in LKQ during the second quarter valued at approximately $1,015,096,000. Foundation Resource Management Inc. grew its stake in LKQ by 35.4% in the third quarter. Foundation Resource Management Inc. now owns 817,292 shares of the auto parts company’s stock valued at $18,659,000 after purchasing an additional 213,868 shares in the last quarter. Engineers Gate Manager LP bought a new position in LKQ in the second quarter valued at approximately $3,438,000. Public Employees Retirement System of Ohio acquired a new position in shares of LKQ during the 2nd quarter worth approximately $2,070,000. Finally, Private Management Group Inc. increased its position in shares of LKQ by 18.5% during the 2nd quarter. Private Management Group Inc. now owns 1,564,152 shares of the auto parts company’s stock worth $41,184,000 after purchasing an additional 244,141 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LKQ. Barrington Research cut LKQ from an “outperform” rating to a “market perform” rating in a report on Friday, October 23rd. Jefferies Financial Group restated a “buy” rating and issued a $30.00 price target on shares of LKQ in a report on Friday, October 23rd. JPMorgan Chase & Co. reduced their price objective on LKQ from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Stephens reduced their price objective on LKQ from $39.00 to $36.50 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Finally, Weiss Ratings downgraded LKQ from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, LKQ has a consensus rating of “Hold” and a consensus price target of $26.07.

LKQ News Roundup

Here are the key news stories impacting LKQ this week:

• Positive Sentiment: Two directors disclosed substantial stock purchases: Andrew Clarke bought 21,800 shares for about $400,000, while Michael Scott Powell bought 10,000 shares for about $191,500. Insider buying may signal confidence, though it does not guarantee a recovery. SEC filing for Andrew Clarke purchase SEC filing for Michael Scott Powell purchase
• Negative Sentiment: Reported consensus price targets were cut, including a 16.53% reduction to $27.19 and a separate 17.48% reduction to €24.15. Lower targets suggest analysts have become more cautious about LKQ’s outlook. Report on dollar price target Report on euro price target
• Negative Sentiment: Several law firms announced investigations into possible securities-law violations, based on allegations that LKQ may have provided materially misleading business information. These are investigations, not findings of wrongdoing, but the headlines could weigh on sentiment. Block & Leviton investigation announcement Rosen Law investigation announcement
• Negative Sentiment: Unusual options activity included 29,165 put options purchased—about 22 times typical volume—pointing to elevated hedging or bearish positioning.

About LKQ

LKQ Corporation is a global distributor of automotive parts and accessories. The company supplies replacement parts, components and equipment to professional repair shops, collision-repair businesses, insurers, dealerships and other commercial customers. Its product offerings include recycled original-equipment parts, aftermarket parts, specialty vehicle products, tools and equipment.

LKQ’s operations include the procurement, dismantling and distribution of salvaged vehicles, allowing it to provide recycled engines, transmissions, body panels and other components.