Short Interest in LKQ Co. (NASDAQ:LKQ) Decreases By 23.3%

LKQ Co. (NASDAQ:LKQ) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 3,400,000 shares, a drop of 23.3% from the March 15th total of 4,430,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 2.2 days. Currently, 1.3% of the shares of the stock are short sold.

Insider Activity

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the sale, the chief executive officer now owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in shares of LKQ during the 3rd quarter worth $26,000. CVA Family Office LLC bought a new position in LKQ during the fourth quarter worth about $26,000. Clear Street Markets LLC boosted its position in LKQ by 94.1% during the first quarter. Clear Street Markets LLC now owns 497 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 241 shares during the period. Covestor Ltd raised its position in shares of LKQ by 81.1% in the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 279 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of LKQ by 228.4% during the 4th quarter. Private Trust Co. NA now owns 647 shares of the auto parts company’s stock valued at $31,000 after buying an additional 450 shares in the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LKQ has been the subject of several recent research reports. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target on shares of LKQ in a research report on Tuesday, April 9th. Barrington Research reiterated an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of LKQ from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, LKQ presently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

LKQ Stock Down 0.4 %

NASDAQ LKQ traded down $0.22 on Monday, reaching $49.03. The company had a trading volume of 1,060,845 shares, compared to its average volume of 1,539,421. The company has a quick ratio of 0.53, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $51.14 and its 200 day moving average is $48.37. LKQ has a 52-week low of $41.49 and a 52-week high of $59.38. The stock has a market capitalization of $13.08 billion, a P/E ratio of 14.01 and a beta of 1.28.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, February 22nd. The auto parts company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. LKQ had a net margin of 6.75% and a return on equity of 17.24%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Sell-side analysts anticipate that LKQ will post 4.08 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.45%. LKQ’s payout ratio is currently 34.29%.

LKQ Company Profile

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.