LKQ (NASDAQ:LKQ) Trading 6.1% Higher After Better-Than-Expected Earnings

LKQ Co. (NASDAQ:LKQ - Get Free Report) was up 6.1% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $42.79 and last traded at $41.81. Approximately 678,631 shares traded hands during trading, a decline of 65% from the average daily volume of 1,959,232 shares. The stock had previously closed at $39.40.

The auto parts company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. LKQ had a return on equity of 14.93% and a net margin of 4.81%. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.42 billion.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, March 13th. LKQ's dividend payout ratio is presently 45.80%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com cut shares of LKQ from a "buy" rating to a "hold" rating in a research report on Thursday. Barrington Research reissued an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on LKQ from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.

Insider Activity at LKQ

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $36.14, for a total transaction of $180,700.00. Following the transaction, the director now owns 369,462 shares in the company, valued at $13,352,356.68. This represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 20,000 shares of company stock worth $781,500 in the last ninety days. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On LKQ

Several institutional investors have recently made changes to their positions in LKQ. OLD Second National Bank of Aurora raised its holdings in LKQ by 0.7% in the 4th quarter. OLD Second National Bank of Aurora now owns 44,169 shares of the auto parts company's stock valued at $1,623,000 after acquiring an additional 287 shares in the last quarter. Private Trust Co. NA raised its stake in LKQ by 31.2% in the third quarter. Private Trust Co. NA now owns 1,256 shares of the auto parts company's stock valued at $50,000 after purchasing an additional 299 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in LKQ by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 103,156 shares of the auto parts company's stock worth $4,118,000 after purchasing an additional 306 shares during the period. Bank of Nova Scotia grew its stake in LKQ by 1.0% during the fourth quarter. Bank of Nova Scotia now owns 34,192 shares of the auto parts company's stock worth $1,257,000 after buying an additional 331 shares in the last quarter. Finally, Cromwell Holdings LLC increased its holdings in LKQ by 81.0% in the 4th quarter. Cromwell Holdings LLC now owns 742 shares of the auto parts company's stock valued at $27,000 after buying an additional 332 shares during the period. 95.63% of the stock is currently owned by institutional investors.

LKQ Stock Up 1.8 %

The firm's 50-day moving average price is $37.63 and its 200 day moving average price is $38.76. The company has a current ratio of 1.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 15.74 and a beta of 1.29.

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.