LKQ Corp. (LKQ) Stock Rating Lowered by Zacks Investment Research
LKQ Corp. (NASDAQ:LKQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “LKQ Corp is the largest nationwide provider of recycled OEM automotive replacement parts and related services, with sales and processing facilities and redistribution centers that reach most major markets in the United States. “
A number of other research firms also recently commented on LKQ. Susquehanna assumed coverage on LKQ Corp. in a research report on Thursday, August 25th. They set a “positive” rating and a $42.00 target price on the stock. FBR & Co reiterated an “outperform” rating and set a $40.00 target price on shares of LKQ Corp. in a research report on Wednesday, October 5th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $36.00 target price on shares of LKQ Corp. in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.25.
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Shares of LKQ Corp. (NASDAQ:LKQ) opened at 33.55 on Tuesday. The company’s 50 day moving average price is $35.32 and its 200-day moving average price is $33.52. The firm has a market capitalization of $10.30 billion, a P/E ratio of 23.14 and a beta of 0.72. LKQ Corp. has a 12 month low of $23.95 and a 12 month high of $36.35.
LKQ Corp. (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. LKQ Corp. had a return on equity of 15.82% and a net margin of 5.59%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. LKQ Corp.’s quarterly revenue was up 33.3% on a year-over-year basis. On average, equities analysts predict that LKQ Corp. will post $1.84 earnings per share for the current fiscal year.
In other LKQ Corp. news, Director Joseph M. Holsten sold 16,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $36.00, for a total transaction of $576,000.00. Following the completion of the sale, the director now directly owns 280,447 shares in the company, valued at $10,096,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert L. Wagman sold 1,502 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $34.51, for a total value of $51,834.02. Following the sale, the chief executive officer now owns 358,654 shares of the company’s stock, valued at $12,377,149.54. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership raised its stake in shares of LKQ Corp. by 4.1% in the second quarter. Artisan Partners Limited Partnership now owns 29,430,648 shares of the company’s stock valued at $932,952,000 after buying an additional 1,152,626 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of LKQ Corp. by 23.8% in the second quarter. Vanguard Group Inc. now owns 25,013,673 shares of the company’s stock valued at $792,934,000 after buying an additional 4,806,738 shares in the last quarter. State Street Corp raised its stake in shares of LKQ Corp. by 18.6% in the second quarter. State Street Corp now owns 11,845,837 shares of the company’s stock valued at $375,519,000 after buying an additional 1,854,265 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of LKQ Corp. by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,065,449 shares of the company’s stock valued at $289,460,000 after buying an additional 92,774 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of LKQ Corp. by 25.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,282,741 shares of the company’s stock valued at $167,463,000 after buying an additional 1,075,057 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.
About LKQ Corp.
LKQ Corporation (LKQ) is a global 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. The company distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, and recycled collision and mechanical products.
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