LKQ Co. (NASDAQ:LKQ) Sees Significant Decrease in Short Interest

LKQ Co. (NASDAQ:LKQGet Rating) saw a significant decline in short interest in December. As of December 30th, there was short interest totalling 4,010,000 shares, a decline of 10.1% from the December 15th total of 4,460,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 2.9 days.

LKQ Trading Up 1.7 %

Shares of NASDAQ LKQ opened at $55.96 on Monday. The stock has a market capitalization of $14.95 billion, a P/E ratio of 13.32 and a beta of 1.35. The stock’s 50 day moving average price is $54.51 and its two-hundred day moving average price is $53.02. LKQ has a 52-week low of $42.36 and a 52-week high of $58.85. The company has a quick ratio of 0.67, a current ratio of 1.79 and a debt-to-equity ratio of 0.45.

LKQ (NASDAQ:LKQGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. LKQ had a return on equity of 19.83% and a net margin of 9.18%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the company posted $1.02 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts anticipate that LKQ will post 3.9 earnings per share for the current fiscal year.

LKQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Thursday, November 17th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.97%. This is a positive change from LKQ’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 16th. LKQ’s dividend payout ratio is 26.19%.

Insiders Place Their Bets

In related news, Director Holdings L.P. Valueact sold 6,500,000 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $53.60, for a total value of $348,400,000.00. Following the transaction, the director now owns 6,052,751 shares in the company, valued at $324,427,453.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LKQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in LKQ by 84.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,172,143 shares of the auto parts company’s stock valued at $280,277,000 after purchasing an additional 2,819,542 shares in the last quarter. Vanguard Group Inc. boosted its stake in LKQ by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 29,043,132 shares of the auto parts company’s stock valued at $1,369,384,000 after purchasing an additional 1,778,320 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in LKQ by 8.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 14,508,584 shares of the auto parts company’s stock valued at $712,227,000 after purchasing an additional 1,099,881 shares in the last quarter. Lazard Asset Management LLC boosted its stake in LKQ by 15.7% during the 1st quarter. Lazard Asset Management LLC now owns 6,749,817 shares of the auto parts company’s stock valued at $306,509,000 after purchasing an additional 914,423 shares in the last quarter. Finally, National Pension Service boosted its stake in LKQ by 432.2% during the 3rd quarter. National Pension Service now owns 558,987 shares of the auto parts company’s stock valued at $26,390,000 after purchasing an additional 453,959 shares in the last quarter. 93.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Raymond James upped their price objective on LKQ from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. StockNews.com cut LKQ from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 24th. Finally, Guggenheim cut their price objective on LKQ to $68.00 in a research note on Tuesday, November 1st.

About LKQ

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LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. 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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