LKQ (NASDAQ:LKQ) Trading 6.1% Higher Following Earnings Beat

LKQ Co. (NASDAQ:LKQ)’s stock price traded up 6.1% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $42.79 and last traded at $41.81. 678,631 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,959,232 shares. The stock had previously closed at $39.40.

The auto parts company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. LKQ had a return on equity of 15.15% and a net margin of 4.90%.

Analysts Set New Price Targets

Several analysts have issued reports on LKQ shares. JPMorgan Chase & Co. dropped their target price on LKQ from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Barrington Research restated an “outperform” rating and issued a $60.00 target price on shares of LKQ in a report on Thursday. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird dropped their target price on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Stifel Nicolaus dropped their target price on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, LKQ has an average rating of “Moderate Buy” and a consensus target price of $52.40.

Insider Activity

In related news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.84, for a total transaction of $184,200.00. Following the transaction, the director now owns 374,462 shares of the company’s stock, valued at approximately $13,795,180.08. This represents a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $781,500 in the last quarter. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On LKQ

Hedge funds have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in LKQ in the 4th quarter valued at about $3,037,000. Vise Technologies Inc. acquired a new stake in LKQ in the 4th quarter valued at about $281,000. Ananym Capital Management LP acquired a new stake in LKQ in the 4th quarter valued at about $23,910,000. PharVision Advisers LLC acquired a new stake in LKQ in the 4th quarter valued at about $356,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in LKQ by 6.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,566,608 shares of the auto parts company’s stock valued at $94,323,000 after purchasing an additional 160,298 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

LKQ Stock Up 6.0 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 15.58 and a beta of 1.29. The business has a 50-day simple moving average of $37.58 and a 200-day simple moving average of $38.75.

About LKQ

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; 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.