LKQ Co. (NASDAQ:LKQ) Short Interest Up 20.2% in September

LKQ Co. (NASDAQ:LKQ) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 6,000,000 shares, an increase of 20.2% from the August 31st total of 4,990,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 1,950,000 shares, the days-to-cover ratio is presently 3.1 days.

LKQ Stock Down 1.1 %

Shares of NASDAQ:LKQ traded down $0.45 during trading on Monday, reaching $39.92. 1,738,721 shares of the stock were exchanged, compared to its average volume of 1,838,547. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.75 and a quick ratio of 0.70. LKQ has a 1-year low of $35.57 and a 1-year high of $53.68. The stock has a fifty day moving average of $40.60 and a two-hundred day moving average of $43.65. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 12.96 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.87 billion. LKQ had a return on equity of 15.33% and a net margin of 5.03%. LKQ’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Research analysts anticipate that LKQ will post 3.55 earnings per share for the current fiscal year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, August 15th. LKQ’s payout ratio is currently 38.96%.

Insiders Place Their Bets

In other LKQ news, SVP Matthew J. Mckay bought 2,500 shares of LKQ stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $39.75 per share, with a total value of $99,375.00. Following the completion of the transaction, the senior vice president now owns 94,670 shares in the company, valued at approximately $3,763,132.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other LKQ news, Director Andrew C. Clarke bought 7,600 shares of LKQ stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $39.70 per share, with a total value of $301,720.00. Following the completion of the transaction, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew J. Mckay purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $39.75 per share, with a total value of $99,375.00. Following the purchase, the senior vice president now owns 94,670 shares of the company’s stock, valued at $3,763,132.50. The disclosure for this purchase can be found here. Insiders purchased a total of 12,600 shares of company stock valued at $500,870 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LKQ

Several large investors have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. increased its position in shares of LKQ by 2,670.3% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 18,284 shares of the auto parts company’s stock valued at $760,000 after purchasing an additional 17,624 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of LKQ during the 2nd quarter valued at $1,204,000. Clearbridge Investments LLC increased its position in shares of LKQ by 31.5% during the 2nd quarter. Clearbridge Investments LLC now owns 653,739 shares of the auto parts company’s stock valued at $27,189,000 after purchasing an additional 156,430 shares during the last quarter. Delphi Management Inc. MA grew its stake in shares of LKQ by 3.1% during the 2nd quarter. Delphi Management Inc. MA now owns 31,500 shares of the auto parts company’s stock worth $1,310,000 after acquiring an additional 957 shares during the period. Finally, 3Chopt Investment Partners LLC bought a new position in shares of LKQ during the 2nd quarter worth $282,000. 95.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on LKQ. JPMorgan Chase & Co. boosted their target price on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research note on Wednesday, September 18th. StockNews.com downgraded LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Robert W. Baird lowered their price objective on LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research note on Thursday, September 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

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.