LKQ (NASDAQ:LKQ) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of LKQ (NASDAQ:LKQ) from a hold rating to a buy rating in a research report report published on Monday morning.

LKQ has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Barrington Research reissued an “outperform” rating and set a $60.00 target price on shares of LKQ in a research note on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $59.00 target price on shares of LKQ in a research report on Thursday, September 12th. Robert W. Baird dropped their price target on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Stifel Nicolaus decreased their price objective on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.80.

LKQ Price Performance

NASDAQ LKQ opened at $38.06 on Monday. LKQ has a 1 year low of $35.57 and a 1 year high of $53.68. The business’s fifty day moving average is $38.94 and its two-hundred day moving average is $40.99. The stock has a market capitalization of $9.89 billion, a P/E ratio of 14.20 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72.

LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, October 24th. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. LKQ’s revenue for the quarter was up .4% compared to the same quarter last year. On average, research analysts forecast that LKQ will post 3.43 earnings per share for the current fiscal year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.15%. LKQ’s dividend payout ratio is 44.78%.

Hedge Funds Weigh In On LKQ

A number of hedge funds have recently added to or reduced their stakes in LKQ. Rehmann Capital Advisory Group acquired a new position in LKQ during the third quarter worth $634,000. Toronto Dominion Bank boosted its stake in shares of LKQ by 21.5% during the 3rd quarter. Toronto Dominion Bank now owns 94,268 shares of the auto parts company’s stock worth $3,763,000 after acquiring an additional 16,676 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of LKQ by 13.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,567 shares of the auto parts company’s stock valued at $302,000 after acquiring an additional 869 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of LKQ by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,542,740 shares of the auto parts company’s stock valued at $260,330,000 after acquiring an additional 21,161 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in LKQ by 7.2% in the 3rd quarter. M&T Bank Corp now owns 59,157 shares of the auto parts company’s stock worth $2,361,000 after purchasing an additional 3,973 shares during the last quarter. Institutional investors and hedge funds own 95.63% 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.