Wall Street analysts expect that LKQ Co. (NASDAQ:LKQ) will report $3.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for LKQ’s earnings, with estimates ranging from $2.99 billion to $3.08 billion. LKQ reported sales of $2.47 billion during the same quarter last year, which indicates a positive year over year growth rate of 23.1%. The company is scheduled to report its next earnings results on Thursday, February 28th.
On average, analysts expect that LKQ will report full-year sales of $11.91 billion for the current year, with estimates ranging from $11.86 billion to $11.95 billion. For the next financial year, analysts expect that the business will report sales of $13.13 billion, with estimates ranging from $12.82 billion to $13.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for LKQ.
LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.12 billion. LKQ had a net margin of 5.01% and a return on equity of 14.55%.
Several equities analysts have weighed in on the stock. ValuEngine upgraded shares of LKQ from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. BidaskClub lowered shares of LKQ from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Raymond James decreased their target price on shares of LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Zacks Investment Research lowered shares of LKQ from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Barrington Research reiterated a “buy” rating and issued a $45.00 target price on shares of LKQ in a report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $43.25.
In related news, insider Dominick P. Zarcone purchased 2,000 shares of LKQ stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $26.55 per share, with a total value of $53,100.00. Following the purchase, the insider now owns 259,080 shares of the company’s stock, valued at $6,878,574. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Varun Laroyia purchased 1,000 shares of LKQ stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the completion of the purchase, the vice president now directly owns 75,673 shares in the company, 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.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in LKQ by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 30,855,717 shares of the auto parts company’s stock worth $977,201,000 after buying an additional 810,901 shares during the period. BlackRock Inc. increased its stake in LKQ by 4.6% during the 3rd quarter. BlackRock Inc. now owns 19,909,212 shares of the auto parts company’s stock worth $630,523,000 after buying an additional 866,735 shares during the period. Capital World Investors purchased a new stake in LKQ during the 3rd quarter worth approximately $288,862,000. JPMorgan Chase & Co. increased its stake in LKQ by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,938,421 shares of the auto parts company’s stock worth $188,070,000 after buying an additional 181,633 shares during the period. Finally, Nordea Investment Management AB increased its stake in LKQ by 26.5% during the 3rd quarter. Nordea Investment Management AB now owns 5,075,225 shares of the auto parts company’s stock worth $160,732,000 after buying an additional 1,062,738 shares during the period. 90.09% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:LKQ opened at $25.63 on Friday. The company has a current ratio of 2.65, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.80 and a beta of 1.28. LKQ has a 1-year low of $25.35 and a 1-year high of $43.86.
LKQ declared that its board has authorized a stock repurchase plan on Thursday, October 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
LKQ Company Profile
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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