LKQ (NASDAQ:LKQ) Lifted to Buy at Zacks Investment Research

LKQ (NASDAQ:LKQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, January 8th. The firm presently has a $47.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.12% from the company’s previous close.

According to Zacks, “In December, LKQ Corp signed an agreement to acquire the German spare-parts distributor Stahlgruber. This acquisition is in sync with its strategy to expand its presence in Europe through acquisitions and new branch openings for counter sales and distribution centers. In third-quarter 2017, LKQ Corp acquired 11 companies. Moreover, the company expects positive growth in its organic sales in fiscal 2017. LKQ Corp is changing the payment allocation for sales representatives, thus lowering its operational costs. Also, in the last three months, the company has outperformed in the industry it belongs to.”

A number of other equities analysts have also recently weighed in on LKQ. Jefferies Group raised their price objective on LKQ from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, October 2nd. BidaskClub raised LKQ from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $42.00 price target on shares of LKQ in a research note on Friday, October 27th. B. Riley reiterated a “buy” rating on shares of LKQ in a research report on Wednesday, November 1st. Finally, FBR & Co reiterated a “buy” rating and issued a $41.00 price objective on shares of LKQ in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.13.

Shares of LKQ (NASDAQ LKQ) traded up $0.48 during trading hours on Monday, hitting $43.47. The stock had a trading volume of 1,153,100 shares, compared to its average volume of 1,214,978. The firm has a market capitalization of $13,434.15, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. LKQ has a one year low of $27.85 and a one year high of $43.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.82 and a quick ratio of 1.10.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. LKQ had a return on equity of 15.10% and a net margin of 5.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. research analysts anticipate that LKQ will post 1.89 EPS for the current year.

In other LKQ news, VP Victor M. Casini sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $36.82, for a total transaction of $920,500.00. Following the sale, the vice president now directly owns 213,884 shares in the company, valued at $7,875,208.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael S. Clark sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $40.07, for a total value of $300,525.00. Following the sale, the vice president now owns 61,860 shares in the company, valued at $2,478,730.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,500 shares of company stock valued at $5,223,025. 1.10% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Fairpointe Capital LLC boosted its position in LKQ by 9.0% during the 2nd quarter. Fairpointe Capital LLC now owns 3,199,715 shares of the auto parts company’s stock valued at $105,430,000 after acquiring an additional 264,587 shares in the last quarter. Grandeur Peak Global Advisors LLC boosted its position in shares of LKQ by 353.7% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 142,925 shares of the auto parts company’s stock worth $4,709,000 after purchasing an additional 111,425 shares in the last quarter. Norris Perne & French LLP MI boosted its position in shares of LKQ by 3.7% in the 3rd quarter. Norris Perne & French LLP MI now owns 305,470 shares of the auto parts company’s stock worth $10,994,000 after purchasing an additional 10,951 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of LKQ by 110.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 20,606 shares of the auto parts company’s stock worth $679,000 after purchasing an additional 10,810 shares in the last quarter. Finally, Hunter Associates Investment Management LLC boosted its position in shares of LKQ by 77.1% in the 2nd quarter. Hunter Associates Investment Management LLC now owns 37,791 shares of the auto parts company’s stock worth $1,245,000 after purchasing an additional 16,450 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

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LKQ Company Profile

LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.

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