LKQ (NASDAQ:LKQ) Sets New 52-Week Low on Disappointing Earnings

LKQ Co. (NASDAQ:LKQ - Get Free Report) shares reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The company traded as low as $41.30 and last traded at $42.53, with a volume of 645581 shares trading hands. The stock had previously closed at $41.65.

The auto parts company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). The firm had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.76 billion. LKQ had a return on equity of 17.24% and a net margin of 6.75%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 earnings per share.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, May 15th. LKQ's dividend payout ratio is currently 34.29%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LKQ shares. JPMorgan Chase & Co. lowered their target price on shares of LKQ from $65.00 to $63.00 and set an "overweight" rating for the company in a research note on Thursday, January 25th. StockNews.com downgraded LKQ from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Stifel Nicolaus restated a "buy" rating and issued a $66.00 price objective on shares of LKQ in a report on Tuesday, April 9th. Barrington Research restated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Friday, April 19th. Finally, Roth Mkm restated a "buy" rating and issued a $65.00 price objective on shares of LKQ in a report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LKQ presently has an average rating of "Moderate Buy" and a consensus price target of $61.60.

Insiders Place Their Bets

In other LKQ news, CEO Dominick P. Zarcone sold 200,000 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $51.97, for a total value of $10,394,000.00. Following the completion of the transaction, the chief executive officer now directly owns 386,522 shares in the company, valued at $20,087,548.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LKQ

Several hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in LKQ in the third quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in LKQ in the fourth quarter valued at approximately $26,000. Private Trust Co. NA boosted 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 valued at $31,000 after buying an additional 450 shares during the last quarter. NBC Securities Inc. purchased a new stake in LKQ in the third quarter valued at approximately $34,000. Finally, Headinvest LLC purchased a new stake in LKQ in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 95.63% of the company's stock.

LKQ Trading Up 3.9 %

The stock has a 50-day moving average of $51.08 and a 200 day moving average of $48.30. The stock has a market cap of $11.55 billion, a PE ratio of 12.37 and a beta of 1.28. The company has a quick ratio of 0.53, a current ratio of 1.47 and a debt-to-equity ratio of 0.59.

About LKQ

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.