LKQ (NASDAQ:LKQ) Price Target Cut to $50.00

LKQ (NASDAQ:LKQ) had its price target reduced by Robert W. Baird from $54.00 to $50.00 in a research report released on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the auto parts company’s stock.

Several other analysts have also recently issued reports on the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $66.00 price target on shares of LKQ in a report on Tuesday, April 9th. Barrington Research restated an outperform rating and issued a $60.00 target price on shares of LKQ in a research note on Thursday, July 25th. Finally, Roth Mkm reiterated a buy rating and issued a $65.00 price target on shares of LKQ in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $60.80.

LKQ Price Performance

LKQ opened at $40.16 on Friday. LKQ has a twelve month low of $35.57 and a twelve month high of $55.52. The company has a current ratio of 1.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.69. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 13.04 and a beta of 1.29. The company has a fifty day simple moving average of $42.37 and a 200 day simple moving average of $46.48.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.05). LKQ had a return on equity of 15.33% and a net margin of 5.03%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that LKQ will post 3.59 EPS for the current fiscal year.

LKQ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, August 15th. LKQ’s dividend payout ratio is presently 38.96%.

Insider Buying and Selling at LKQ

In related news, Director Andrew C. Clarke purchased 7,600 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $39.70 per share, with a total value of $301,720.00. Following the acquisition, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other LKQ news, Director Xavier Urbain sold 867 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $44.50, for a total value of $38,581.50. Following the sale, the director now owns 15,606 shares in the company, valued at $694,467. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew C. Clarke acquired 7,600 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $39.70 per share, with a total value of $301,720.00. Following the completion of the acquisition, the director now directly owns 10,519 shares in the company, valued at $417,604.30. The disclosure for this purchase can be found here. Insiders purchased a total of 13,084 shares of company stock worth $521,096 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Lawson Kroeker Investment Management Inc. NE increased its holdings in shares of LKQ by 2.1% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 208,206 shares of the auto parts company’s stock valued at $8,659,000 after purchasing an additional 4,343 shares during the period. Principal Financial Group Inc. increased its stake in LKQ by 230.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,011,132 shares of the auto parts company’s stock valued at $42,053,000 after buying an additional 705,040 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of LKQ by 861.4% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 556,570 shares of the auto parts company’s stock worth $23,148,000 after buying an additional 498,680 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in LKQ by 79.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,728 shares of the auto parts company’s stock worth $1,985,000 after purchasing an additional 21,066 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in LKQ by 16.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 850,289 shares of the auto parts company’s stock worth $35,364,000 after purchasing an additional 121,258 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.

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.