LKQ Corporation (LKQ) Sees Significant Decline in Short Interest
LKQ Corporation (NASDAQ:LKQ) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 6,978,917 shares, a drop of 18.1% from the August 15th total of 8,520,563 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average trading volume of 1,323,706 shares, the days-to-cover ratio is presently 5.3 days.
Shares of LKQ Corporation (NASDAQ LKQ) opened at 35.62 on Friday. The stock has a market cap of $11.00 billion, a P/E ratio of 22.33 and a beta of 0.83. LKQ Corporation has a one year low of $27.85 and a one year high of $35.98. The stock has a 50 day moving average of $34.42 and a 200 day moving average of $31.90.
LKQ Corporation (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. LKQ Corporation had a net margin of 5.31% and a return on equity of 15.74%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts expect that LKQ Corporation will post $1.88 EPS for the current fiscal year.
A number of research analysts have commented on LKQ shares. BidaskClub upgraded shares of LKQ Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Susquehanna Bancshares Inc restated a “positive” rating and issued a $40.00 price objective (up from $38.00) on shares of LKQ Corporation in a research note on Monday, July 31st. Zacks Investment Research lowered shares of LKQ Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price objective on shares of LKQ Corporation in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $37.00 price objective on shares of LKQ Corporation in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.20.
In other LKQ Corporation news, Director A Clinton Allen sold 16,000 shares of LKQ Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $32.92, for a total value of $526,720.00. Following the transaction, the director now directly owns 196,083 shares in the company, valued at $6,455,052.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John S. Quinn sold 8,230 shares of LKQ Corporation stock in a transaction on Monday, July 17th. The shares were sold at an average price of $33.15, for a total transaction of $272,824.50. Following the completion of the transaction, the executive vice president now owns 254,726 shares in the company, valued at $8,444,166.90. The disclosure for this sale can be found here. Insiders have sold a total of 49,230 shares of company stock worth $1,634,545 over the last quarter. 1.10% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in LKQ. Israel Discount Bank of New York acquired a new stake in shares of LKQ Corporation in the 1st quarter worth about $102,000. Global X Management Co. LLC increased its holdings in shares of LKQ Corporation by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 4,985 shares of the auto parts company’s stock worth $146,000 after acquiring an additional 1,129 shares during the period. Pacer Advisors Inc. increased its holdings in shares of LKQ Corporation by 3.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,387 shares of the auto parts company’s stock worth $158,000 after acquiring an additional 181 shares during the period. Private Advisor Group LLC acquired a new stake in shares of LKQ Corporation in the 1st quarter worth about $163,000. Finally, Profund Advisors LLC increased its holdings in shares of LKQ Corporation by 0.3% in the 1st quarter. Profund Advisors LLC now owns 7,384 shares of the auto parts company’s stock worth $216,000 after acquiring an additional 22 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.
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LKQ Corporation 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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