LKQ (NASDAQ:LKQ) Releases FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.38-3.52 for the period, compared to the consensus estimate of $3.53. LKQ also updated its FY 2024 guidance to 3.380-3.520 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Robert W. Baird lowered their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. StockNews.com downgraded shares of LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Barrington Research reissued an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $59.00 price target on shares of LKQ in a research note on Thursday, September 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LKQ currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

LKQ Trading Down 0.3 %

Shares of NASDAQ:LKQ traded down $0.11 during trading on Thursday, reaching $37.67. 3,907,311 shares of the stock were exchanged, compared to its average volume of 1,899,314. The firm’s 50-day moving average price is $40.07 and its 200 day moving average price is $42.08. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 12.23 and a beta of 1.28. LKQ has a 12-month low of $35.57 and a 12-month high of $53.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75.

LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.05). The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.87 billion. LKQ had a return on equity of 15.33% and a net margin of 5.03%. LKQ’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. On average, sell-side analysts anticipate that LKQ will post 3.55 earnings per share for the current fiscal year.

Insider Activity at LKQ

In related news, Director Andrew C. Clarke bought 7,600 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the acquisition, the director now owns 10,519 shares in the company, valued at $417,604.30. This represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Justin L. Jude acquired 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $39.91 per share, with a total value of $99,775.00. Following the transaction, the chief executive officer now directly owns 207,515 shares in the company, valued at approximately $8,281,923.65. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew C. Clarke bought 7,600 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 12,600 shares of company stock worth $500,870. Corporate insiders own 0.55% of the company’s stock.

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.