Traders Purchase High Volume of Put Options on LKQ (LKQ)

LKQ Co. (NASDAQ:LKQ) saw some unusual options trading on Monday. Stock traders acquired 2,353 put options on the stock. This represents an increase of 1,798% compared to the average volume of 124 put options.

LKQ opened at $31.72 on Tuesday. The company has a market cap of $10.30 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 0.94 and a beta of 1.21. LKQ has a one year low of $29.60 and a one year high of $43.86. The company has a current ratio of 2.57, a quick ratio of 1.05 and a debt-to-equity ratio of 0.89.

LKQ (NASDAQ:LKQ) last released its earnings results on Thursday, July 26th. The auto parts company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.89 billion. LKQ had a return on equity of 14.41% and a net margin of 5.21%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. equities research analysts predict that LKQ will post 2.29 earnings per share for the current year.

In related news, EVP John S. Quinn sold 8,019 shares of LKQ stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $33.51, for a total transaction of $268,716.69. Following the transaction, the executive vice president now directly owns 265,014 shares in the company, valued at $8,880,619.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of LKQ in the second quarter valued at approximately $115,000. IFP Advisors Inc boosted its holdings in shares of LKQ by 605.9% in the first quarter. IFP Advisors Inc now owns 3,614 shares of the auto parts company’s stock valued at $137,000 after purchasing an additional 3,102 shares during the period. Assetmark Inc. boosted its holdings in shares of LKQ by 7,663.0% in the second quarter. Assetmark Inc. now owns 4,192 shares of the auto parts company’s stock valued at $134,000 after purchasing an additional 4,138 shares during the period. Captrust Financial Advisors boosted its holdings in shares of LKQ by 229.9% in the second quarter. Captrust Financial Advisors now owns 4,632 shares of the auto parts company’s stock valued at $148,000 after purchasing an additional 3,228 shares during the period. Finally, Point72 Asia Hong Kong Ltd boosted its holdings in shares of LKQ by 4,221.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 4,970 shares of the auto parts company’s stock valued at $189,000 after purchasing an additional 4,855 shares during the period. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on LKQ. BidaskClub downgraded LKQ from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. ValuEngine downgraded LKQ from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Zacks Investment Research downgraded LKQ from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Barrington Research reissued a “buy” rating and set a $45.00 price objective on shares of LKQ in a research note on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. LKQ currently has an average rating of “Buy” and an average target price of $43.89.

About LKQ

LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in 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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