LKQ (NASDAQ:LKQ) Director Acquires $191,500.00 in Stock

by · The Cerbat Gem

LKQ Corporation (NASDAQ:LKQ – Get Free Report) Director Michael Scott Powell bought 10,000 shares of LKQ stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average cost of $19.15 per share, for a total transaction of $191,500.00. Following the acquisition, the director owned 20,998 shares of the company’s stock, valued at $402,111.70. This represents a 90.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

LKQ Trading Down 1.9%

NASDAQ LKQ opened at $20.54 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.75 and a debt-to-equity ratio of 0.58. LKQ Corporation has a 52 week low of $16.85 and a 52 week high of $37.13. The stock has a market capitalization of $5.18 billion, a PE ratio of 8.62 and a beta of 0.87. The firm has a 50 day moving average of $22.32 and a two-hundred day moving average of $26.95.

LKQ (NASDAQ:LKQ – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The auto parts company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.08). LKQ had a net margin of 1.89% and a return on equity of 9.57%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts expect that LKQ Corporation will post 2.22 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Thursday, November 19th. LKQ’s dividend payout ratio is 120.00%.

Analyst Ratings Changes

A number of analysts have weighed in on LKQ shares. Zacks Research cut LKQ from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price objective on LKQ from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Stephens lowered their price objective on LKQ from $39.00 to $36.50 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 price objective on shares of LKQ in a report on Friday, October 23rd. Finally, Robert W. Baird cut their target price on LKQ from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, October 26th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.07.

Read Our Latest Stock Report on LKQ

Institutional Trading of LKQ

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of LKQ in the 2nd quarter valued at about $1,015,096,000. Pzena Investment Management LLC acquired a new stake in shares of LKQ in the 2nd quarter valued at about $398,696,000. Nykredit A S purchased a new position in LKQ during the 2nd quarter worth approximately $84,795,000. Bank of New York Mellon Corp purchased a new position in LKQ during the 2nd quarter worth approximately $76,343,000. Finally, Bank of America Corp DE acquired a new position in LKQ during the second quarter worth approximately $58,221,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Company Profile

(Get Free Report)

LKQ Corporation is a global distributor of automotive parts and accessories. The company supplies replacement parts, components and equipment to professional repair shops, collision-repair businesses, insurers, dealerships and other commercial customers. Its product offerings include recycled original-equipment parts, aftermarket parts, specialty vehicle products, tools and equipment.

LKQ’s operations include the procurement, dismantling and distribution of salvaged vehicles, allowing it to provide recycled engines, transmissions, body panels and other components.

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