JPMorgan Chase & Co. Cuts LKQ (NASDAQ:LKQ) Price Target to $48.00

LKQ (NASDAQ:LKQ) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $50.00 to $48.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 28.51% from the company’s current price.

A number of other brokerages have also recently commented on LKQ. Robert W. Baird reduced their price target on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus dropped their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Barrington Research restated an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, LKQ presently has a consensus rating of “Buy” and an average price target of $52.40.

LKQ Trading Up 0.3 %

Shares of LKQ stock opened at $37.35 on Tuesday. LKQ has a 1 year low of $35.56 and a 1 year high of $53.68. The firm has a fifty day moving average price of $37.57 and a 200-day moving average price of $38.81. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 13.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67.

Insider Buying and Selling

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $36.14, for a total transaction of $180,700.00. Following the completion of the transaction, the director now owns 369,462 shares in the company, valued at $13,352,356.68. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in LKQ by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,977,708 shares of the auto parts company’s stock valued at $478,150,000 after purchasing an additional 33,212 shares during the last quarter. State Street Corp raised its position in shares of LKQ by 1.2% during the 3rd quarter. State Street Corp now owns 11,449,166 shares of the auto parts company’s stock valued at $457,051,000 after buying an additional 134,176 shares in the last quarter. Nordea Investment Management AB grew its position in LKQ by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock worth $309,609,000 after acquiring an additional 833,519 shares in the last quarter. Geode Capital Management LLC increased its stake in LKQ by 0.3% during the third quarter. Geode Capital Management LLC now owns 6,542,740 shares of the auto parts company’s stock worth $260,330,000 after acquiring an additional 21,161 shares during the last quarter. Finally, FMR LLC raised its position in LKQ by 7.3% during the third quarter. FMR LLC now owns 6,020,689 shares of the auto parts company’s stock valued at $240,346,000 after purchasing an additional 411,390 shares during the period. 95.63% of the stock is currently owned by institutional investors.

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.