Zacks Investment Research upgraded shares of LKQ (NASDAQ:LKQ) from a hold rating to a buy rating in a research report report published on Monday. Zacks Investment Research currently has $48.00 price objective 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. The company is also changing the payment allocation for sales representatives, thus lowering its operational costs. Also, in the last six months, the company has outperformed the industry it belongs to.”
LKQ has been the topic of several other reports. BidaskClub downgraded shares of LKQ from a buy rating to a hold rating in a research note on Wednesday, November 1st. Jefferies Group restated a buy rating and issued a $43.00 target price on shares of LKQ in a report on Sunday, October 29th. Robert W. Baird restated a buy rating and issued a $47.00 target price on shares of LKQ in a report on Friday, December 22nd. Wellington Shields cut shares of LKQ from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Wolfe Research assumed coverage on shares of LKQ in a report on Tuesday, November 7th. They issued an outperform rating on the stock. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $43.89.
LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.35 billion. LKQ had a net margin of 5.27% and a return on equity of 15.10%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. analysts expect that LKQ will post 1.89 EPS for the current fiscal year.
In related news, VP Victor M. Casini sold 25,000 shares of LKQ 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 sale, the vice president now owns 213,884 shares in the company, valued at $7,875,208.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John S. Quinn sold 10,301 shares of LKQ stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $43.24, for a total transaction of $445,415.24. Following the completion of the sale, the executive vice president now owns 296,765 shares in the company, valued at approximately $12,832,118.60. The disclosure for this sale can be found here. Insiders sold 142,801 shares of company stock worth $5,668,440 in the last 90 days. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC boosted its holdings in LKQ by 1.8% in the second quarter. Sentry Investment Management LLC now owns 23,828 shares of the auto parts company’s stock valued at $785,000 after acquiring an additional 425 shares in the last quarter. Cedar Capital LLC boosted its holdings in LKQ by 20.6% in the third quarter. Cedar Capital LLC now owns 7,900 shares of the auto parts company’s stock valued at $284,000 after acquiring an additional 1,348 shares in the last quarter. Aperio Group LLC boosted its holdings in LKQ by 1.1% in the third quarter. Aperio Group LLC now owns 128,071 shares of the auto parts company’s stock valued at $4,609,000 after acquiring an additional 1,431 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in LKQ by 0.7% in the third quarter. Atlantic Trust Group LLC now owns 380,444 shares of the auto parts company’s stock valued at $13,692,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in LKQ by 0.8% in the third quarter. Rhumbline Advisers now owns 548,517 shares of the auto parts company’s stock valued at $19,741,000 after acquiring an additional 4,110 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.
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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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