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

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

LKQ Stock Performance

Shares of LKQ stock traded up $0.08 on Friday, reaching $37.75. The stock had a trading volume of 1,115,321 shares, compared to its average volume of 1,895,298. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average is $40.07 and its two-hundred day moving average is $42.08. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 12.43 and a beta of 1.28. LKQ has a 12 month low of $35.57 and a 12 month high of $53.68.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LKQ. Roth Mkm reaffirmed a “buy” rating and issued a $59.00 target price on shares of LKQ in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Robert W. Baird cut their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Barrington Research reissued an “outperform” rating and set a $60.00 price target on shares of LKQ in a research report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Insider Activity

In other news, SVP Matthew J. Mckay bought 2,500 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average cost of $39.75 per share, with a total value of $99,375.00. Following the acquisition, the senior vice president now owns 94,670 shares in the company, valued at $3,763,132.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by insiders.

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.