LKQ Corporation (LKQ) Sees Significant Decrease in Short Interest

LKQ Corporation (NASDAQ:LKQ) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 6,978,917 shares, a decline of 18.1% from the August 15th total of 8,520,563 shares. Based on an average daily volume of 1,323,706 shares, the short-interest ratio is currently 5.3 days. Approximately 2.3% of the shares of the company are sold short.

LKQ has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $37.00 price target on shares of LKQ Corporation in a research note on Wednesday, August 9th. BidaskClub raised LKQ Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and set a $37.00 price target on shares of LKQ Corporation in a research note on Thursday, July 6th. Northcoast Research lowered LKQ Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 25th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and set a $40.00 price target (up previously from $38.00) on shares of LKQ Corporation in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.20.

Shares of LKQ Corporation (NASDAQ:LKQ) opened at 34.73 on Wednesday. The stock’s 50 day moving average price is $34.49 and its 200 day moving average price is $31.98. LKQ Corporation has a 52 week low of $27.85 and a 52 week high of $35.86. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 21.77 and a beta of 0.83.

LKQ Corporation (NASDAQ:LKQ) last posted its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. LKQ Corporation had a net margin of 5.31% and a return on equity of 15.74%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Equities research analysts anticipate that LKQ Corporation will post $1.88 EPS for the current fiscal year.

In other news, Director Guhan Subramanian purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $33.96 per share, with a total value of $135,840.00. Following the purchase, the director now directly owns 23,811 shares of the company’s stock, valued at $808,621.56. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John S. Quinn sold 8,230 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $33.15, for a total value of $272,824.50. Following the sale, the executive vice president now directly owns 254,726 shares in the company, valued at approximately $8,444,166.90. The disclosure for this sale can be found here. Insiders have sold a total of 49,230 shares of company stock worth $1,634,545 in the last quarter. 1.10% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in LKQ Corporation by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 28,048,351 shares of the auto parts company’s stock worth $820,976,000 after purchasing an additional 902,294 shares during the period. BlackRock Inc. boosted its stake in LKQ Corporation by 3,058.3% in the 1st quarter. BlackRock Inc. now owns 18,595,751 shares of the auto parts company’s stock worth $544,296,000 after purchasing an additional 18,006,955 shares during the period. State Street Corp boosted its stake in LKQ Corporation by 1.7% in the 1st quarter. State Street Corp now owns 12,654,829 shares of the auto parts company’s stock worth $370,404,000 after purchasing an additional 212,428 shares during the period. Nordea Investment Management AB boosted its stake in LKQ Corporation by 856.1% in the 1st quarter. Nordea Investment Management AB now owns 4,741,329 shares of the auto parts company’s stock worth $138,779,000 after purchasing an additional 4,245,408 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in LKQ Corporation by 411.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 3,701,758 shares of the auto parts company’s stock worth $108,350,000 after purchasing an additional 2,977,759 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

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About LKQ Corporation

LKQ Corporation (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company’s segments include Wholesale-North America; Europe; Specialty, and Self Service.

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