LKQ Co. (NASDAQ:LKQ) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,850,000 shares, a decline of 11.9% from the September 30th total of 4,370,000 shares. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.3% of the company’s shares are sold short.
Shares of NASDAQ LKQ traded up $0.20 during mid-day trading on Monday, hitting $35.75. The stock had a trading volume of 89,263 shares, compared to its average volume of 2,074,592. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.93 and a current ratio of 2.18. LKQ has a 1 year low of $22.74 and a 1 year high of $36.21. The business has a 50 day moving average price of $32.33 and a two-hundred day moving average price of $28.37. The firm has a market cap of $10.78 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32.
LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 31st. The auto parts company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. LKQ had a net margin of 3.50% and a return on equity of 14.79%. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts predict that LKQ will post 2.34 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Oakworth Capital Inc. purchased a new position in LKQ during the 2nd quarter valued at $26,000. Optimum Investment Advisors increased its position in LKQ by 211.1% during the 2nd quarter. Optimum Investment Advisors now owns 1,400 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 950 shares during the period. Amica Retiree Medical Trust purchased a new position in LKQ during the 2nd quarter valued at $38,000. Investors Research Corp increased its position in LKQ by 33.3% during the 2nd quarter. Investors Research Corp now owns 1,600 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 400 shares during the period. Finally, Bessemer Group Inc. increased its position in LKQ by 522.3% during the 2nd quarter. Bessemer Group Inc. now owns 1,817 shares of the auto parts company’s stock valued at $48,000 after purchasing an additional 1,525 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. SunTrust Banks boosted their price objective on shares of LKQ to $40.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barrington Research reaffirmed a “buy” rating and issued a $42.50 target price on shares of LKQ in a research note on Monday, October 28th. ValuEngine downgraded shares of LKQ from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. TheStreet raised shares of LKQ from a “c+” rating to a “b-” rating in a research note on Tuesday, September 24th. Finally, BidaskClub downgraded shares of LKQ from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.44.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates in four segments: Wholesale – North America, Europe, Specialty, and Self Service. 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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