LKQ (NASDAQ:LKQ) Stock: Insider Michael Scott Powell Purchases 10,000 Shares

LKQ Corporation (NASDAQ:LKQ) Director Michael Scott Powell bought 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of $19.15 per share, for a total transaction of $191,500.00. Following the completion of the transaction, the director owned 20,998 shares of the company’s stock, valued at $402,111.70. This represents a 90.93% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

LKQ Trading Up 8.7%

NASDAQ:LKQ opened at $20.94 on Thursday. LKQ Corporation has a 52-week low of $16.85 and a 52-week high of $37.13. The company has a quick ratio of 0.67, a current ratio of 1.75 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $27.01. The company has a market capitalization of $5.29 billion, a PE ratio of 20.94 and a beta of 0.87.

LKQ (NASDAQ:LKQ) last announced its earnings results on Thursday, October 29th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.08). The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.36 billion. LKQ had a return on equity of 9.57% and a net margin of 1.89%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, equities research analysts expect that LKQ Corporation will post 2.22 earnings per share for the current fiscal year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Thursday, November 19th. LKQ’s dividend payout ratio is 120.00%.

Institutional Trading of LKQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Investment Management LLC grew its holdings in LKQ by 45.3% during the third quarter. Kestra Investment Management LLC now owns 27,250 shares of the auto parts company’s stock valued at $622,000 after purchasing an additional 8,491 shares during the period. AlphaCore Capital LLC bought a new stake in shares of LKQ in the 3rd quarter valued at about $291,000. Private Management Group Inc. boosted its stake in LKQ by 29.9% in the third quarter. Private Management Group Inc. now owns 2,032,114 shares of the auto parts company’s stock valued at $46,393,000 after acquiring an additional 467,962 shares in the last quarter. Ethic Inc. grew its position in LKQ by 35.1% during the 3rd quarter. Ethic Inc. now owns 10,606 shares of the auto parts company’s stock worth $242,000 after purchasing an additional 2,757 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in LKQ by 8.0% in the third quarter. Commonwealth Equity Services LLC now owns 12,275 shares of the auto parts company’s stock valued at $280,000 after buying an additional 911 shares during the last quarter. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Key Headlines Impacting LKQ

Here are the key news stories impacting LKQ this week:

• Positive Sentiment: Two directors made sizable open-market purchases: Andrew Clarke bought 21,800 shares for about $400,000, and Michael Scott Powell bought 10,000 shares for about $191,500. Insider buying can signal confidence, though it does not guarantee a turnaround. Director purchase report
• Negative Sentiment: Multiple law firms announced investigations into potential securities claims, citing allegations that LKQ may have provided materially misleading business information. These are investigations, not findings of wrongdoing, but the headlines may add uncertainty and pressure sentiment. Rosen Law investigation announcement
• Negative Sentiment: Reported consensus price targets were reduced, including cuts of 16.53% to $27.19 and 17.48% to €24.15, signaling more cautious expectations. Report on consensus price-target reduction
• Negative Sentiment: Recent quarterly results missed expectations: LKQ reported $0.50 in earnings per share versus the $0.58 consensus and revenue of $3.32 billion versus $3.36 billion expected. Revenue fell 5.1% year over year, adding to concerns about its operating outlook.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LKQ. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price target on shares of LKQ in a research report on Friday, October 23rd. Robert W. Baird decreased their price target on shares of LKQ from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Monday, October 26th. Raymond James Financial set a $30.00 price objective on LKQ in a research report on Friday, July 31st. Barclays upgraded LKQ from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a report on Monday, October 26th. Finally, Zacks Research cut LKQ from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, LKQ has an average rating of “Hold” and a consensus price target of $26.07.

About LKQ

LKQ Corporation is a global distributor of automotive parts and accessories. The company supplies replacement parts, components and equipment to professional repair shops, collision-repair businesses, insurers, dealerships and other commercial customers. Its product offerings include recycled original-equipment parts, aftermarket parts, specialty vehicle products, tools and equipment.

LKQ’s operations include the procurement, dismantling and distribution of salvaged vehicles, allowing it to provide recycled engines, transmissions, body panels and other components.