LKQ (NASDAQ:LKQ) Stock Price Up 6.1% Following Better-Than-Expected Earnings

LKQ Co. (NASDAQ:LKQ)’s stock price rose 6.1% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $42.79 and last traded at $41.81. Approximately 678,631 shares changed hands during trading, a decline of 65% from the average daily volume of 1,959,232 shares. The stock had previously closed at $39.40.

The auto parts company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.42 billion. LKQ had a net margin of 4.90% and a return on equity of 15.15%.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. LKQ’s payout ratio is presently 44.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research note on Thursday. Barrington Research reiterated an “outperform” rating and set a $60.00 price target on shares of LKQ in a research note on Thursday. JPMorgan Chase & Co. increased their target price on shares of LKQ from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird reduced their target price 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, Stifel Nicolaus reduced their target price on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Insider Transactions at LKQ

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $36.14, for a total value of $180,700.00. Following the sale, the director now directly owns 369,462 shares in the company, valued at $13,352,356.68. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $781,500. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of LKQ

A number of hedge funds and other institutional investors have recently bought and sold shares of LKQ. OLD Second National Bank of Aurora boosted its holdings in shares of LKQ by 0.7% in the 4th quarter. OLD Second National Bank of Aurora now owns 44,169 shares of the auto parts company’s stock valued at $1,623,000 after buying an additional 287 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of LKQ by 31.2% during the third quarter. Private Trust Co. NA now owns 1,256 shares of the auto parts company’s stock worth $50,000 after purchasing an additional 299 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of LKQ by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 103,156 shares of the auto parts company’s stock worth $4,118,000 after purchasing an additional 306 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of LKQ by 1.0% during the fourth quarter. Bank of Nova Scotia now owns 34,192 shares of the auto parts company’s stock worth $1,257,000 after purchasing an additional 331 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in shares of LKQ by 81.0% during the fourth quarter. Cromwell Holdings LLC now owns 742 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 332 shares during the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

LKQ Stock Performance

The company has a market cap of $10.53 billion, a price-to-earnings ratio of 15.11 and a beta of 1.29. The firm has a 50-day simple moving average of $37.63 and a 200 day simple moving average of $38.76. The company has a quick ratio of 0.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.69.

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.