LKQ (LKQ) Raised 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 report issued on Tuesday. The firm presently has a $45.00 target price on the auto parts company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.05% from the company’s previous close.

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.”

LKQ has been the topic of several other research reports. B. Riley reiterated a “buy” rating on shares of LKQ in a research note on Wednesday, November 1st. Northcoast Research upgraded LKQ from a “neutral” rating to a “buy” rating in a research note on Monday. ValuEngine upgraded LKQ from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stephens set a $50.00 price objective on LKQ and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, BidaskClub downgraded LKQ from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $43.56.

Shares of LKQ (NASDAQ LKQ) traded up $1.24 during midday trading on Tuesday, hitting $40.16. The stock had a trading volume of 2,474,800 shares, compared to its average volume of 1,431,843. LKQ has a 12-month low of $27.85 and a 12-month high of $43.86. The stock has a market cap of $12,028.00, a P/E ratio of 25.10, a PEG ratio of 1.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.82 and a quick ratio of 1.10.

In other LKQ news, VP Victor M. Casini sold 25,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $42.55, for a total transaction of $1,063,750.00. Following the sale, the vice president now owns 222,395 shares of the company’s stock, valued at approximately $9,462,907.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Iv Webster sold 100,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $40.02, for a total transaction of $4,002,000.00. Following the sale, the director now directly owns 119,222 shares in the company, valued at approximately $4,771,264.44. The disclosure for this sale can be found here. Insiders have sold a total of 142,801 shares of company stock worth $5,811,690 in the last three months. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its holdings in shares of LKQ by 3,552.2% in the fourth quarter. Allianz Asset Management GmbH now owns 234,470 shares of the auto parts company’s stock worth $9,535,000 after purchasing an additional 228,050 shares during the period. Amalgamated Bank increased its holdings in shares of LKQ by 9.7% in the fourth quarter. Amalgamated Bank now owns 38,927 shares of the auto parts company’s stock worth $1,583,000 after purchasing an additional 3,445 shares during the period. Lunia Capital LP bought a new position in shares of LKQ in the fourth quarter worth $12,202,000. Caldera Capital LLC bought a new position in shares of LKQ in the fourth quarter worth $9,344,000. Finally, Commerce Bank bought a new position in shares of LKQ in the fourth quarter worth $256,000. 92.34% of the stock is currently owned by hedge funds and other 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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