LKQ (NASDAQ:LKQ) Hits New 12-Month Low on Insider Selling

LKQ Co. (NASDAQ:LKQ)’s share price hit a new 52-week low during mid-day trading on Friday following insider selling activity. The company traded as low as $35.56 and last traded at $36.07, with a volume of 234138 shares. The stock had previously closed at $36.24.

Specifically, Director Dominick P. Zarcone sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $36.84, for a total transaction of $184,200.00. Following the completion of the transaction, the director now directly owns 374,462 shares in the company, valued at $13,795,180.08. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of brokerages have weighed in on LKQ. StockNews.com raised shares of LKQ from a “hold” rating to a “buy” rating in a report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Roth Mkm restated a “buy” rating and set a $59.00 price target on shares of LKQ in a research note on Thursday, September 12th. Robert W. Baird reduced their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Barrington Research restated an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, LKQ has an average rating of “Buy” and a consensus price target of $53.80.

LKQ Stock Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72. The firm has a 50 day moving average price of $37.91 and a two-hundred day moving average price of $39.75. The company has a market capitalization of $9.51 billion, a P/E ratio of 13.65 and a beta of 1.30.

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

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 3.28%. LKQ’s dividend payout ratio is 44.78%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH acquired a new stake in LKQ during the 3rd quarter valued at $45,733,000. Seizert Capital Partners LLC increased its stake in shares of LKQ by 451.1% in the third quarter. Seizert Capital Partners LLC now owns 1,327,664 shares of the auto parts company’s stock valued at $53,000,000 after buying an additional 1,086,758 shares in the last quarter. Millennium Management LLC raised its holdings in shares of LKQ by 552.8% in the second quarter. Millennium Management LLC now owns 1,236,158 shares of the auto parts company’s stock valued at $51,412,000 after buying an additional 1,046,805 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in LKQ by 7.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock worth $496,772,000 after buying an additional 875,420 shares in the last quarter. Finally, Private Management Group Inc. bought a new stake in LKQ during the 3rd quarter worth about $19,889,000. Institutional investors 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.