LKQ Corporation (LKQ) Rating Reiterated by FBR & Co

LKQ Corporation (NASDAQ:LKQ)‘s stock had its “buy” rating restated by equities research analysts at FBR & Co in a note issued to investors on Friday. They currently have a $41.00 target price on the auto parts company’s stock. FBR & Co’s price target points to a potential upside of 11.59% from the company’s previous close.

The analysts wrote, “Our view on LKQ has not significantly changed following the company’s 3Q17 results: We believe that this stock remains a high quality investment opportunity in the auto aftermarket that provides investors with a good insurance policy against a downturn in SAAR. The company has a diversified basket of growth opportunities in different regions and different parts categories, which we believe should provide stability to the business model. Moreover, we think that the company’s pan- European acquisition strategy is playing out as the company continues to execute small acquisitions, bolstering its market share in multiple countries. We would be looking for solid growth from the North American business during the back half based on solid execution as well as the company continuing to roll out new parts.””

Other equities research analysts have also recently issued research reports about the company. BidaskClub cut LKQ Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Northcoast Research cut LKQ Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and issued a $37.00 price target on shares of LKQ Corporation in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 price target on shares of LKQ Corporation in a research note on Wednesday, August 9th. Finally, Robert W. Baird reissued a “buy” rating and issued a $42.00 price target on shares of LKQ Corporation in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. LKQ Corporation currently has an average rating of “Buy” and an average target price of $40.67.

LKQ Corporation (NASDAQ LKQ) traded down 0.97% on Friday, reaching $36.74. 1,362,507 shares of the company traded hands. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 23.03 and a beta of 0.85. LKQ Corporation has a 52-week low of $27.85 and a 52-week high of $37.70. The firm has a 50 day moving average price of $36.22 and a 200 day moving average price of $33.32.

LKQ Corporation (NASDAQ:LKQ) last released its earnings results on Thursday, October 26th. The auto parts company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.35 billion. LKQ Corporation had a return on equity of 15.10% and a net margin of 5.27%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Equities research analysts predict that LKQ Corporation will post $1.88 EPS for the current year.

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In related news, Director A Clinton Allen sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $32.92, for a total value of $526,720.00. Following the completion of the sale, the director now directly owns 196,083 shares in the company, valued at approximately $6,455,052.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Victor M. Casini sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $36.82, for a total value of $920,500.00. Following the completion of the sale, the vice president now owns 213,884 shares of the company’s stock, valued at $7,875,208.88. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global X Management Co. LLC lifted its holdings in LKQ Corporation by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 4,985 shares of the auto parts company’s stock worth $146,000 after purchasing an additional 1,129 shares during the last quarter. Gyroscope Capital Management Group LLC acquired a new stake in LKQ Corporation in the 2nd quarter worth approximately $243,000. Private Capital Management Inc. acquired a new stake in LKQ Corporation in the 2nd quarter worth approximately $247,000. Buffington Mohr McNeal acquired a new stake in LKQ Corporation in the 2nd quarter worth approximately $264,000. Finally, Achmea Investment Management B.V. acquired a new stake in LKQ Corporation in the 1st quarter worth approximately $405,000. Hedge funds and other institutional investors own 92.54% of the company’s stock.

LKQ Corporation 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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