LKQ (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, “In December, LKQ Corp has 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. However, these frequent acquisitions are hampering its gross margin figures. Also, rising expenses due to fluctuating prices of fuel, scrap metal and other commodities and product recalls are few of the other concerns for the company. Also, over a month, LKQ Corp’s has underperformed the industry it belongs to.”
Several other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of LKQ from a “hold” rating to a “buy” rating in a report on Friday. BidaskClub cut shares of LKQ from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Stephens set a $50.00 target price on shares of LKQ and gave the company a “buy” rating in a report on Tuesday, January 16th. Robert W. Baird restated a “buy” rating and set a $47.00 target price on shares of LKQ in a report on Friday, December 22nd. Finally, Jefferies Group restated a “buy” rating on shares of LKQ in a report on Thursday, December 14th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. LKQ has an average rating of “Buy” and a consensus target price of $43.67.
In other LKQ news, EVP John S. Quinn sold 10,301 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $43.24, for a total value of $445,415.24. Following the completion of the transaction, the executive vice president now owns 296,765 shares of the company’s stock, valued at approximately $12,832,118.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Victor M. Casini sold 25,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $42.55, for a total value of $1,063,750.00. Following the completion of the transaction, the vice president now directly owns 222,395 shares of the company’s stock, valued at approximately $9,462,907.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,801 shares of company stock valued at $5,811,690. 1.10% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of LKQ. Janus Henderson Group PLC grew its stake in shares of LKQ by 106.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,508,044 shares of the auto parts company’s stock valued at $90,264,000 after purchasing an additional 1,294,439 shares during the period. CI Global Investments Inc. grew its stake in shares of LKQ by 49.7% during the 4th quarter. CI Global Investments Inc. now owns 3,793,044 shares of the auto parts company’s stock valued at $154,263,000 after acquiring an additional 1,259,782 shares during the period. Frontier Capital Management Co. LLC grew its stake in shares of LKQ by 32.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,113,705 shares of the auto parts company’s stock valued at $126,634,000 after acquiring an additional 760,466 shares during the period. Victory Capital Management Inc. grew its stake in shares of LKQ by 141.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,227,544 shares of the auto parts company’s stock valued at $49,925,000 after acquiring an additional 719,462 shares during the period. Finally, National Pension Service bought a new position in shares of LKQ during the 4th quarter valued at approximately $15,472,000. 92.05% of the stock is owned by institutional investors and hedge funds.
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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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