Published On: Thu, Sep 15th, 2016

LKQ Corp. (LKQ) Stock Rating Upgraded by Zacks Investment Research

LKQ Corp. (NASDAQ:LKQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $40.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.90% from the company’s current price.
According to Zacks, “LKQ Corp is the largest nationwide provider of recycled OEM automotive replacement parts and related services, with sales and processing facilities and redistribution centers that reach most major markets in the United States. “
LKQ has been the topic of several other reports. Sterne Agee CRT reaffirmed a “buy” rating and issued a $40.00 price target on shares of LKQ Corp. in a research report on Thursday, May 26th. Susquehanna assumed coverage on LKQ Corp. in a research report on Thursday, August 25th. They issued a “positive” rating and a $42.00 price target on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $36.00 price target on shares of LKQ Corp. in a research report on Tuesday, June 28th. Ten investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $38.00.

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Shares of LKQ Corp. (NASDAQ:LKQ) traded up 0.71% during trading on Wednesday, reaching $35.43. The company had a trading volume of 1,682,801 shares. The firm has a market capitalization of $10.88 billion, a PE ratio of 24.43 and a beta of 0.74. The stock has a 50 day moving average price of $35.26 and a 200 day moving average price of $32.88. LKQ Corp. has a 12 month low of $23.95 and a 12 month high of $36.35.
LKQ Corp. (NASDAQ:LKQ) last posted its earnings results on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. LKQ Corp. had a return on equity of 15.82% and a net margin of 5.59%. The firm earned $2.45 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities research analysts forecast that LKQ Corp. will post $1.84 EPS for the current year.
In other LKQ Corp. news, insider Robert L. Wagman sold 19,700 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $34.51, for a total value of $679,847.00. Following the sale, the insider now directly owns 358,654 shares in the company, valued at $12,377,149.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert L. Wagman sold 20,100 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $34.07, for a total value of $684,807.00. Following the completion of the sale, the insider now owns 360,456 shares in the company, valued at $12,280,735.92. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. IBM Retirement Fund boosted its stake in shares of LKQ Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 36,165 shares of the company’s stock worth $1,197,000 after buying an additional 111 shares during the period. Montag & Caldwell LLC boosted its stake in shares of LKQ Corp. by 0.3% in the second quarter. Montag & Caldwell LLC now owns 43,483 shares of the company’s stock worth $1,378,000 after buying an additional 150 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of LKQ Corp. by 1.3% in the second quarter. Panagora Asset Management Inc. now owns 13,084 shares of the company’s stock worth $415,000 after buying an additional 165 shares during the period. Gerstein Fisher boosted its stake in shares of LKQ Corp. by 0.8% in the second quarter. Gerstein Fisher now owns 21,478 shares of the company’s stock worth $681,000 after buying an additional 168 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of LKQ Corp. by 2.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,736 shares of the company’s stock worth $221,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 91.63% of the company’s stock.
LKQ Corp. Company Profile
LKQ Corporation (LKQ) is a global 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. The company distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, and recycled collision and mechanical products.

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