LKQ (NASDAQ:LKQ) Hits New 1-Year Low Following Weak Earnings

LKQ Co. (NASDAQ:LKQ)’s share price reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $41.30 and last traded at $42.53, with a volume of 645581 shares. The stock had previously closed at $41.65.

The auto parts company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. LKQ had a return on equity of 15.94% and a net margin of 5.79%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.80%. LKQ’s dividend payout ratio (DPR) is currently 38.96%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target on shares of LKQ in a research note on Tuesday, April 9th. Robert W. Baird decreased their target price on LKQ from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on LKQ from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $60.00 target price on shares of LKQ in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, LKQ currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Insider Buying and Selling at LKQ

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $51.97, for a total transaction of $10,394,000.00. Following the sale, the chief executive officer now directly owns 386,522 shares of the company’s stock, valued at $20,087,548.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On LKQ

Large investors have recently made changes to their positions in the company. CVA Family Office LLC bought a new stake in shares of LKQ in the fourth quarter worth about $26,000. OFI Invest Asset Management purchased a new position in LKQ in the third quarter worth about $26,000. Private Trust Co. NA grew its position in LKQ by 228.4% in the fourth quarter. Private Trust Co. NA now owns 647 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 450 shares in the last quarter. Headinvest LLC purchased a new position in LKQ in the third quarter worth about $34,000. Finally, NBC Securities Inc. purchased a new position in LKQ in the third quarter worth about $34,000. 95.63% of the stock is owned by institutional investors.

LKQ Trading Down 0.8 %

The company has a market cap of $11.45 billion, a PE ratio of 14.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.70 and a quick ratio of 0.53. The company has a 50-day moving average of $50.97 and a 200 day moving average of $48.27.

LKQ Company Profile

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.