Comerica Bank decreased its holdings in LKQ Co. (NASDAQ:LKQ) by 1.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 67,168 shares of the auto parts company’s stock after selling 1,007 shares during the period. Comerica Bank’s holdings in LKQ were worth $2,135,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. bought a new stake in LKQ during the 2nd quarter worth about $26,000. Optimum Investment Advisors grew its holdings in LKQ by 211.1% during the 2nd quarter. Optimum Investment Advisors now owns 1,400 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 950 shares during the last quarter. Amica Retiree Medical Trust bought a new stake in LKQ during the 2nd quarter worth about $38,000. Investors Research Corp grew its holdings in LKQ by 33.3% during the 2nd quarter. Investors Research Corp now owns 1,600 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in LKQ by 522.3% during the 2nd quarter. Bessemer Group Inc. now owns 1,817 shares of the auto parts company’s stock worth $48,000 after acquiring an additional 1,525 shares during the last quarter. Institutional investors own 91.35% of the company’s stock.
LKQ has been the topic of a number of research analyst reports. SunTrust Banks increased their price objective on shares of LKQ to $40.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wolfe Research set a $41.00 price objective on shares of LKQ and gave the stock a “buy” rating in a report on Friday, November 1st. BidaskClub lowered shares of LKQ from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Barrington Research reaffirmed a “buy” rating and issued a $42.50 target price on shares of LKQ in a research note on Monday, October 28th. Finally, Jefferies Financial Group raised their target price on shares of LKQ from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.44.
LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 31st. The auto parts company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.14 billion. LKQ had a net margin of 3.50% and a return on equity of 14.79%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities research analysts anticipate that LKQ Co. will post 2.34 earnings per share for the current fiscal year.
In related news, Director Blythe J. Mcgarvie sold 13,692 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.62, for a total value of $487,709.04. Following the sale, the director now directly owns 20,993 shares in the company, valued at approximately $747,770.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott A. Romberger sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $19.96, for a total transaction of $199,600.00. Company insiders own 0.71% of the company’s stock.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates in four segments: Wholesale – North America, Europe, Specialty, and Self Service. 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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