LKQ Co. (NASDAQ:LKQ – Get Rating)'s share price reached a new 52-week high on Thursday . The company traded as high as $58.59 and last traded at $58.00, with a volume of 3740209 shares. The stock had previously closed at $57.49.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Raymond James boosted their target price on shares of LKQ from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday. StockNews.com downgraded shares of LKQ from a "strong-buy" rating to a "buy" rating in a report on Monday, October 24th. Finally, Guggenheim cut their price target on shares of LKQ to $68.00 in a report on Tuesday, November 1st.
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The company has a market capitalization of $15.63 billion, a P/E ratio of 13.93 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.67 and a current ratio of 1.79. The firm's fifty day moving average is $54.16 and its 200 day moving average is $52.73.
LKQ (NASDAQ:LKQ – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The auto parts company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.02. LKQ had a net margin of 9.18% and a return on equity of 19.83%. The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same quarter in the prior year, the company earned $1.02 EPS. The company's revenue was down 6.1% compared to the same quarter last year. As a group, analysts predict that LKQ Co. will post 3.9 earnings per share for the current fiscal year.LKQ Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Wednesday, November 16th. This is a boost from LKQ's previous quarterly dividend of $0.25. LKQ's dividend payout ratio is presently 26.19%.
Insider Transactions at LKQ
In related news, Director Holdings L.P. Valueact sold 6,500,000 shares of the business's stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $53.60, for a total transaction of $348,400,000.00. Following the completion of the transaction, the director now owns 6,052,751 shares in the company, valued at approximately $324,427,453.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in LKQ by 84.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,172,143 shares of the auto parts company's stock valued at $280,277,000 after purchasing an additional 2,819,542 shares in the last quarter. Vanguard Group Inc. increased its stake in LKQ by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 29,043,132 shares of the auto parts company's stock valued at $1,369,384,000 after purchasing an additional 1,778,320 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in LKQ by 8.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 14,508,584 shares of the auto parts company's stock valued at $712,227,000 after purchasing an additional 1,099,881 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of LKQ by 15.7% in the first quarter. Lazard Asset Management LLC now owns 6,749,817 shares of the auto parts company's stock worth $306,509,000 after acquiring an additional 914,423 shares during the period. Finally, National Pension Service increased its stake in shares of LKQ by 432.2% in the third quarter. National Pension Service now owns 558,987 shares of the auto parts company's stock worth $26,390,000 after acquiring an additional 453,959 shares during the period. Institutional investors own 93.55% of the company's stock.
About LKQ
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LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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.
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