LKQ (LKQ) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of LKQ (NASDAQ:LKQ) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $45.00 price target on the auto parts company’s stock.

According to Zacks, “In December, LKQ Corp has signed an agreement to acquire the German spare-parts distributor Stahlgruber. This acquisition is in sync with its strategy to expand its presence in Europe through acquisitions and new branch openings for counter sales and distribution centers. In third-quarter 2017, LKQ Corp acquired 11 companies. However, these frequent acquisitions are hampering its gross margin figures. Also, rising expenses due to fluctuating prices of fuel, scrap metal and other commodities and product recalls are few of the other concerns for the company. Also, over a month, LKQ Corp’s has underperformed the industry it belongs to.”

A number of other research firms also recently commented on LKQ. Robert W. Baird reissued a buy rating and issued a $47.00 price objective on shares of LKQ in a research note on Friday, December 22nd. Stifel Nicolaus reissued a buy rating and issued a $44.00 price objective on shares of LKQ in a research note on Monday, December 11th. Northcoast Research raised LKQ from a neutral rating to a buy rating in a research note on Monday. BidaskClub downgraded LKQ from a buy rating to a hold rating in a research note on Friday, January 19th. Finally, B. Riley reissued a buy rating and issued a $41.00 price objective on shares of LKQ in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. LKQ has a consensus rating of Buy and an average price target of $43.56.

LKQ (NASDAQ:LKQ) traded up $0.33 on Tuesday, hitting $41.77. The stock had a trading volume of 2,005,700 shares, compared to its average volume of 1,486,451. LKQ has a 12 month low of $27.85 and a 12 month high of $43.86. The company has a quick ratio of 1.10, a current ratio of 2.82 and a debt-to-equity ratio of 0.75. The company has a market cap of $12,806.79, a P/E ratio of 26.11, a PEG ratio of 1.17 and a beta of 0.94.

In related news, Director William M. Iv Webster sold 100,000 shares of LKQ 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 transaction, the director now directly owns 119,222 shares in the company, valued at approximately $4,771,264.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Victor M. Casini sold 25,000 shares of LKQ stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $42.55, for a total value of $1,063,750.00. Following the completion of the transaction, the vice president now owns 222,395 shares in the company, valued at $9,462,907.25. The disclosure for this sale can be found here. Insiders sold a total of 142,801 shares of company stock worth $5,811,690 over the last 90 days. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of LKQ. BlackRock Inc. grew its holdings in shares of LKQ by 0.8% during the fourth quarter. BlackRock Inc. now owns 18,779,286 shares of the auto parts company’s stock valued at $763,754,000 after buying an additional 155,013 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of LKQ by 0.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 6,259,733 shares of the auto parts company’s stock valued at $254,583,000 after buying an additional 21,067 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of LKQ by 39.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,513,151 shares of the auto parts company’s stock valued at $183,550,000 after buying an additional 1,283,674 shares in the last quarter. CI Global Investments Inc. grew its holdings in shares of LKQ by 49.7% during the fourth quarter. CI Global Investments Inc. now owns 3,793,044 shares of the auto parts company’s stock valued at $154,263,000 after buying an additional 1,259,782 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of LKQ by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,444,670 shares of the auto parts company’s stock valued at $139,814,000 after buying an additional 100,423 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

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LKQ Company Profile

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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