Engineers Gate Manager LP bought a new position in LKQ Co. (NASDAQ:LKQ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,344 shares of the auto parts company’s stock, valued at approximately $1,214,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LKQ. MAI Capital Management lifted its position in LKQ by 15.0% during the second quarter. MAI Capital Management now owns 12,420 shares of the auto parts company’s stock valued at $396,000 after buying an additional 1,619 shares in the last quarter. Montecito Bank & Trust lifted its position in LKQ by 19.2% during the second quarter. Montecito Bank & Trust now owns 10,373 shares of the auto parts company’s stock valued at $331,000 after buying an additional 1,669 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in LKQ by 8.0% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 23,495 shares of the auto parts company’s stock valued at $749,000 after buying an additional 1,744 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in LKQ by 3.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 47,786 shares of the auto parts company’s stock valued at $1,525,000 after buying an additional 1,781 shares in the last quarter. Finally, Buffington Mohr McNeal lifted its position in LKQ by 14.2% during the second quarter. Buffington Mohr McNeal now owns 14,510 shares of the auto parts company’s stock valued at $463,000 after buying an additional 1,800 shares in the last quarter. 89.46% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Dominick P. Zarcone purchased 2,000 shares of LKQ stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $26.55 per share, with a total value of $53,100.00. Following the completion of the acquisition, the insider now owns 259,080 shares in the company, valued at approximately $6,878,574. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Varun Laroyia purchased 1,000 shares of LKQ stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $26.50 per share, with a total value of $26,500.00. Following the acquisition, the vice president now owns 75,673 shares of the company’s stock, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
A number of research firms have recently commented on LKQ. BidaskClub cut shares of LKQ from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Zacks Investment Research cut shares of LKQ from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine cut shares of LKQ from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Raymond James reduced their target price on shares of LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Finally, Barrington Research reissued a “buy” rating and set a $45.00 target price on shares of LKQ in a research report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.25.
LKQ stock opened at $27.73 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.65 and a quick ratio of 1.04. LKQ Co. has a 1-year low of $25.35 and a 1-year high of $43.86. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27.
LKQ (NASDAQ:LKQ) last released its earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. LKQ had a net margin of 5.01% and a return on equity of 14.55%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.12 billion. Equities research analysts predict that LKQ Co. will post 2.21 earnings per share for the current fiscal year.
LKQ declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to buy up to 5.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.
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