LKQ (NASDAQ:LKQ) Stock: Insider Andrew Clarke Purchases 21,800 Shares

LKQ Corporation (NASDAQ:LKQ) Director Andrew Clarke acquired 21,800 shares of LKQ stock in a transaction on Friday, October 30th. The shares were purchased at an average cost of $18.35 per share, for a total transaction of $400,030.00. Following the acquisition, the director owned 56,850 shares in the company, valued at approximately $1,043,197.50. This represents a 62.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

LKQ Stock Up 8.7%

NASDAQ LKQ opened at $20.94 on Thursday. The stock has a fifty day moving average of $22.43 and a 200-day moving average of $27.01. The stock has a market capitalization of $5.29 billion, a P/E ratio of 20.94 and a beta of 0.87. LKQ Corporation has a 52 week low of $16.85 and a 52 week high of $37.13. 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 (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 29th. The auto parts company reported $0.50 earnings per share (EPS) 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 firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned $0.84 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that LKQ Corporation will post 2.22 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.7%. LKQ’s dividend payout ratio is 120.00%.

LKQ News Roundup

Here are the key news stories impacting LKQ this week:

• Positive Sentiment: Two directors made sizable open-market purchases: Andrew Clarke bought 21,800 shares for about $400,000, and Michael Scott Powell bought 10,000 shares for about $191,500. Insider buying can signal confidence, though it does not guarantee a turnaround. Director purchase report
• Negative Sentiment: Multiple law firms announced investigations into potential securities claims, citing allegations that LKQ may have provided materially misleading business information. These are investigations, not findings of wrongdoing, but the headlines may add uncertainty and pressure sentiment. Rosen Law investigation announcement
• Negative Sentiment: Reported consensus price targets were reduced, including cuts of 16.53% to $27.19 and 17.48% to €24.15, signaling more cautious expectations. Report on consensus price-target reduction
• Negative Sentiment: Recent quarterly results missed expectations: LKQ reported $0.50 in earnings per share versus the $0.58 consensus and revenue of $3.32 billion versus $3.36 billion expected. Revenue fell 5.1% year over year, adding to concerns about its operating outlook.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Roth Capital cut shares of LKQ from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $18.00 in a research report on Monday, October 26th. Weiss Ratings downgraded LKQ from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Robert W. Baird decreased their price objective on LKQ from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Monday, October 26th. Barclays raised shares of LKQ from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a research note on Monday, October 26th. Finally, Raymond James Financial set a $30.00 target price on shares of LKQ in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.07.

Institutional Investors Weigh In On LKQ

Several hedge funds have recently added to or reduced their stakes in LKQ. Kestra Investment Management LLC lifted its holdings in LKQ by 45.3% during the 3rd quarter. Kestra Investment Management LLC now owns 27,250 shares of the auto parts company’s stock worth $622,000 after purchasing an additional 8,491 shares during the last quarter. AlphaCore Capital LLC acquired a new position in LKQ in the 3rd quarter valued at $291,000. Private Management Group Inc. grew its holdings in LKQ by 29.9% in the 3rd quarter. Private Management Group Inc. now owns 2,032,114 shares of the auto parts company’s stock valued at $46,393,000 after buying an additional 467,962 shares in the last quarter. Ethic Inc. grew its holdings in LKQ by 35.1% in the 3rd quarter. Ethic Inc. now owns 10,606 shares of the auto parts company’s stock valued at $242,000 after buying an additional 2,757 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in LKQ by 8.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,275 shares of the auto parts company’s stock worth $280,000 after buying an additional 911 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.

LKQ Company Profile

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.