LKQ (NASDAQ:LKQ) Stock: Insider Sue Gove Acquires 9,795 Shares

Key Points

• Director Sue Gove bought 9,795 LKQ shares at an average price of $20.53, increasing her direct holdings by 89% to 20,793 shares.
• LKQ’s latest quarter fell short of expectations: EPS was $0.50 versus $0.58 forecast, while revenue of $3.32 billion declined 5.1% year over year.
• The company announced a quarterly dividend of $0.30 per share, equivalent to a 5.9% yield; its payout ratio is 120%.

LKQ Corporation (NASDAQ:LKQ - Get Free Report) Director Sue Gove purchased 9,795 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $20.53 per share, with a total value of $201,091.35. Following the completion of the acquisition, the director directly owned 20,793 shares in the company, valued at $426,880.29. The trade was a 89.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

LKQ Price Performance

NASDAQ:LKQ traded down $0.26 on Friday, reaching $20.29. The stock had a trading volume of 589,080 shares, compared to its average volume of 3,278,875. 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 company has a market capitalization of $5.12 billion, a P/E ratio of 20.28 and a beta of 0.87. LKQ Corporation has a 1-year low of $16.85 and a 1-year high of $37.13. The stock has a fifty day moving average price of $22.32 and a 200-day moving average price of $26.95.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The auto parts company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.08). LKQ had a return on equity of 9.57% and a net margin of 1.89%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the business posted $0.84 EPS. The business's quarterly revenue was down 5.1% on a year-over-year basis. Research analysts forecast that LKQ Corporation will post 2.22 EPS for the current year.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 19th. This represents a $1.20 annualized dividend and a yield of 5.9%. LKQ's payout ratio is presently 120.00%.

Institutional Investors Weigh In On LKQ

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in LKQ during the 2nd quarter worth $1,015,096,000. Pzena Investment Management LLC bought a new stake in shares of LKQ during the 2nd quarter valued at $398,696,000. Nykredit A S acquired a new position in shares of LKQ in the 2nd quarter valued at $84,795,000. Bank of New York Mellon Corp acquired a new position in shares of LKQ in the 2nd quarter valued at $76,343,000. Finally, Bank of America Corp DE bought a new position in shares of LKQ in the 2nd quarter worth $58,221,000. 95.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group restated a "buy" rating and set a $30.00 target price on shares of LKQ in a report on Friday, October 23rd. Weiss Ratings cut LKQ from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. Raymond James Financial set a $30.00 price target on shares of LKQ in a research report on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of LKQ from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, October 30th. Finally, Barrington Research cut shares of LKQ from an "outperform" rating to a "market perform" rating in a research report on Friday, October 23rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $26.07.

LKQ Company Profile

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.

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