LKQ (LKQ) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of LKQ (NASDAQ:LKQ) from a hold rating to a buy rating in a report published on Monday morning. Zacks Investment Research currently has $47.00 target price on the auto parts company’s stock.

According to Zacks, “In December, LKQ Corp 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. Moreover, the company expects positive growth in its organic sales in fiscal 2017. LKQ Corp is changing the payment allocation for sales representatives, thus lowering its operational costs. Also, in the last three months, the company has outperformed in the industry it belongs to.”

Several other research firms have also recently issued reports on LKQ. Robert W. Baird reiterated a buy rating and issued a $47.00 price objective on shares of LKQ in a research report on Friday, December 22nd. Stifel Nicolaus reiterated a buy rating and issued a $44.00 price objective on shares of LKQ in a research report on Monday, December 11th. BidaskClub upgraded LKQ from a hold rating to a buy rating in a research report on Thursday, September 28th. B. Riley reiterated a buy rating and issued a $41.00 price objective on shares of LKQ in a research report on Tuesday, December 12th. Finally, Jefferies Group reiterated a buy rating on shares of LKQ in a research report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. LKQ has a consensus rating of Buy and an average target price of $43.00.

Shares of LKQ (NASDAQ LKQ) traded up $0.48 during midday trading on Monday, hitting $43.47. The company had a trading volume of 1,153,170 shares, compared to its average volume of 1,214,978. The company has a current ratio of 2.82, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75. LKQ has a 52-week low of $27.85 and a 52-week high of $43.65. The firm has a market capitalization of $13,430.00, a P/E ratio of 27.34, a PEG ratio of 1.24 and a beta of 0.97.

LKQ (NASDAQ:LKQ) last issued its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. LKQ had a return on equity of 15.10% and a net margin of 5.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. research analysts expect that LKQ will post 1.89 EPS for the current year.

In other news, Director William M. Iv Webster sold 100,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $40.02, for a total value of $4,002,000.00. Following the completion of the transaction, the director now owns 119,222 shares in the company, valued at $4,771,264.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Victor M. Casini sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $36.82, for a total value of $920,500.00. Following the completion of the transaction, the vice president now owns 213,884 shares of the company’s stock, valued at approximately $7,875,208.88. The disclosure for this sale can be found here. Insiders sold 132,500 shares of company stock valued at $5,223,025 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Zions Bancorporation purchased a new stake in LKQ during the 3rd quarter worth about $197,000. Gyroscope Capital Management Group LLC purchased a new stake in LKQ during the 2nd quarter worth about $243,000. Cedar Capital LLC increased its position in LKQ by 20.6% during the 3rd quarter. Cedar Capital LLC now owns 7,900 shares of the auto parts company’s stock worth $284,000 after purchasing an additional 1,348 shares in the last quarter. SG Americas Securities LLC increased its position in LKQ by 44.2% during the 3rd quarter. SG Americas Securities LLC now owns 14,129 shares of the auto parts company’s stock worth $509,000 after purchasing an additional 4,329 shares in the last quarter. Finally, S&CO Inc. increased its position in LKQ by 41.7% during the 3rd quarter. S&CO Inc. now owns 17,000 shares of the auto parts company’s stock worth $612,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 91.49% of the company’s stock.

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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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