Zacks Investment Research lowered shares of LKQ (NASDAQ:LKQ) from a hold rating to a sell rating in a report published on Wednesday, December 27th.
According to Zacks, “Fluctuating prices of fuel, scrap metal and other commodities besides frequent acquisitions might lead to rising costs for LKQ Corp., thereby hampering its financials. LKQ Corp’s gross margins are under pressure due to its recent acquisitions. However, LKQ Corp has outperformed the industry it belongs to in the last three months. The company's earnings and revenues beat the Zacks Consensus Estimate in the third quarter. Compared with the year-ago figures, the company’s earnings per share were in line, whereas the revenues were higher. The company expects positive growth in organic sales in fiscal 2017.”
Several other brokerages also recently issued reports on LKQ. BidaskClub upgraded shares of LKQ from a hold rating to a buy rating in a research note on Friday, December 22nd. Robert W. Baird restated a buy rating and issued a $47.00 price objective on shares of LKQ in a research note on Friday, December 22nd. B. Riley restated a buy rating and issued a $41.00 price objective on shares of LKQ in a research note on Tuesday, December 12th. Stifel Nicolaus restated a buy rating and issued a $44.00 price objective on shares of LKQ in a research note on Monday, December 11th. Finally, Jefferies Group restated a buy rating on shares of LKQ in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $43.00.
LKQ (LKQ) opened at $43.47 on Wednesday. LKQ has a twelve month low of $27.85 and a twelve month high of $43.65. The company has a current ratio of 2.82, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $13,430.00, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 1.24 and a beta of 0.97.
LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. LKQ had a return on equity of 15.10% and a net margin of 5.27%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. equities research analysts forecast that LKQ will post 1.89 EPS for the current year.
In related news, VP Victor M. Casini sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $36.82, for a total value of $920,500.00. Following the completion of the transaction, the vice president now directly owns 213,884 shares of the company’s stock, valued at $7,875,208.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William M. Iv Webster sold 100,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $40.02, for a total value of $4,002,000.00. Following the completion of the transaction, the director now directly owns 119,222 shares of the company’s stock, valued at $4,771,264.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,500 shares of company stock valued at $5,223,025. 1.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation bought a new position in shares of LKQ during the third quarter valued at $197,000. Gyroscope Capital Management Group LLC bought a new position in shares of LKQ during the second quarter valued at $243,000. Cedar Capital LLC lifted its holdings in shares of LKQ by 20.6% during the third quarter. Cedar Capital LLC now owns 7,900 shares of the auto parts company’s stock valued at $284,000 after acquiring an additional 1,348 shares during the period. SG Americas Securities LLC lifted its holdings in shares of LKQ by 44.2% during the third quarter. SG Americas Securities LLC now owns 14,129 shares of the auto parts company’s stock valued at $509,000 after acquiring an additional 4,329 shares during the period. Finally, S&CO Inc. lifted its holdings in shares of LKQ by 41.7% during the third quarter. S&CO Inc. now owns 17,000 shares of the auto parts company’s stock valued at $612,000 after acquiring an additional 5,000 shares during the period. 91.49% of the stock is owned by institutional investors.
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LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.
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