Robert W. Baird Lowers LKQ (NASDAQ:LKQ) Price Target to $42.00

Key Points

• Robert W. Baird has lowered the price target for LKQ (NASDAQ:LKQ) from $48.00 to $42.00, while maintaining an "outperform" rating, indicating a potential upside of 32.37% from the stock's previous close.
• Barrington Research reaffirmed an "outperform" rating for LKQ with a price target of $60.00, contrasting with other brokerages that have recently adjusted ratings for the stock.
• LKQ reported earnings of $0.87 per share, falling short of expectations, and experienced a 1.6% decline in revenue compared to the previous year.

LKQ (NASDAQ:LKQ - Get Free Report) had its target price decreased by Robert W. Baird from $48.00 to $42.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the auto parts company's stock. Robert W. Baird's target price would indicate a potential upside of 32.37% from the stock's previous close.

A number of other brokerages have also recently commented on LKQ. Barrington Research reaffirmed an "outperform" rating and issued a $60.00 price target on shares of LKQ in a research note on Tuesday. Wall Street Zen lowered shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.40.

LKQ Stock Performance

Shares of LKQ opened at $31.73 on Friday. The company has a market cap of $8.19 billion, a PE ratio of 11.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.52 and a quick ratio of 0.56. The firm has a 50-day moving average of $38.67 and a 200-day moving average of $39.56. LKQ has a one year low of $30.06 and a one year high of $44.82.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The auto parts company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.62 billion. LKQ had a net margin of 4.97% and a return on equity of 14.66%. The company's revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. As a group, equities analysts forecast that LKQ will post 3.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $38.02, for a total transaction of $190,100.00. Following the completion of the sale, the director owned 316,135 shares of the company's stock, valued at approximately $12,019,452.70. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On LKQ

Several institutional investors and hedge funds have recently made changes to their positions in LKQ. Clarkston Capital Partners LLC acquired a new position in shares of LKQ in the 4th quarter valued at $91,678,000. Janney Montgomery Scott LLC acquired a new position in LKQ in the first quarter worth $321,000. Teacher Retirement System of Texas bought a new stake in shares of LKQ during the first quarter worth $1,618,000. Amalgamated Bank increased its holdings in LKQ by 1.6% in the first quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company's stock valued at $2,163,000 after purchasing an additional 801 shares during the last quarter. Finally, Aquatic Capital Management LLC increased its holdings in shares of LKQ by 53.2% in the fourth quarter. Aquatic Capital Management LLC now owns 19,298 shares of the auto parts company's stock worth $709,000 after acquiring an additional 6,698 shares in the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

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.

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