LKQ (NASDAQ:LKQ) Trading Up 4.4% – Here’s What Happened

LKQ Co. (NASDAQ:LKQ)’s stock price shot up 4.4% during mid-day trading on Monday . The company traded as high as $40.24 and last traded at $40.21. 306,563 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,928,650 shares. The stock had previously closed at $38.50.

Analyst Ratings Changes

Several analysts have commented on LKQ shares. StockNews.com upgraded LKQ from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Roth Mkm restated a “buy” rating and issued a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. 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. Robert W. Baird decreased their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a 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 report on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, LKQ presently has an average rating of “Buy” and a consensus price target of $53.80.

LKQ Trading Up 0.3 %

The business’s 50-day moving average is $38.70 and its two-hundred day moving average is $40.70. The company has a current ratio of 1.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.17 billion, a PE ratio of 14.60 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 24th. The auto parts company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, analysts predict that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. LKQ’s dividend payout ratio is currently 44.78%.

Institutional Trading of LKQ

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Erste Asset Management GmbH acquired a new stake in LKQ in the third quarter valued at $45,733,000. Seizert Capital Partners LLC raised its stake in shares of LKQ by 451.1% in the 3rd quarter. Seizert Capital Partners LLC now owns 1,327,664 shares of the auto parts company’s stock valued at $53,000,000 after purchasing an additional 1,086,758 shares in the last quarter. Millennium Management LLC lifted its position in shares of LKQ by 552.8% during the second quarter. Millennium Management LLC now owns 1,236,158 shares of the auto parts company’s stock worth $51,412,000 after purchasing an additional 1,046,805 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in LKQ by 7.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock worth $496,772,000 after purchasing an additional 875,420 shares in the last quarter. Finally, Cooke & Bieler LP increased its holdings in LKQ by 39.8% in the second quarter. Cooke & Bieler LP now owns 3,067,772 shares of the auto parts company’s stock valued at $127,589,000 after buying an additional 873,665 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

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.