LKQ (NASDAQ:LKQ) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

LKQ (NASDAQ:LKQ) released its quarterly earnings data on Thursday. The auto parts company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01, Briefing.com reports. LKQ had a return on equity of 15.33% and a net margin of 5.03%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the business posted $0.86 EPS. LKQ’s quarterly revenue was up .4% on a year-over-year basis. LKQ updated its FY 2024 guidance to 3.380-3.520 EPS and its FY24 guidance to $3.38-3.52 EPS.

LKQ Price Performance

LKQ remained flat at $37.67 during trading on Friday. The company’s stock had a trading volume of 1,024,574 shares, compared to its average volume of 1,895,099. LKQ has a 52 week low of $35.57 and a 52 week high of $53.68. The stock has a market cap of $10.05 billion, a PE ratio of 12.43 and a beta of 1.28. The business has a fifty day simple moving average of $40.07 and a 200 day simple moving average of $42.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. 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. Robert W. Baird dropped their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday. Stifel Nicolaus reduced their target price on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com downgraded LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Roth Mkm restated a “buy” rating and issued a $59.00 price objective on shares of LKQ in a research report on Thursday, September 12th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Insider Activity

In other LKQ news, SVP Matthew J. Mckay bought 2,500 shares of LKQ stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $39.75 per share, for a total transaction of $99,375.00. Following the completion of the transaction, the senior vice president now owns 94,670 shares of the company’s stock, valued at $3,763,132.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

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.