LKQ Co. (NASDAQ:LKQ) Sees Significant Drop in Short Interest

LKQ Co. (NASDAQ:LKQ) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 4,070,000 shares, a drop of 17.4% from the November 15th total of 4,930,000 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.6% of the shares of the company are sold short.

LKQ Price Performance

Shares of LKQ stock traded down $0.39 during midday trading on Friday, hitting $37.98. 1,495,471 shares of the company were exchanged, compared to its average volume of 1,959,914. The firm has a 50 day simple moving average of $38.47 and a 200-day simple moving average of $40.29. LKQ has a 52 week low of $35.57 and a 52 week high of $53.68. The firm has a market cap of $9.87 billion, a P/E ratio of 14.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Research analysts forecast that LKQ will post 3.43 earnings per share for the current year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.16%. LKQ’s dividend payout ratio is 44.78%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LKQ shares. Barrington Research reissued an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. JPMorgan Chase & Co. raised 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. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Robert W. Baird reduced their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Stifel Nicolaus lowered their price objective on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat, LKQ currently has a consensus rating of “Buy” and an average target price of $53.80.

Institutional Investors Weigh In On LKQ

Hedge funds have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new stake in shares of LKQ during the third quarter worth $25,000. Rothschild Investment LLC acquired a new position in LKQ during the 2nd quarter valued at about $33,000. Allworth Financial LP boosted its stake in shares of LKQ by 94.2% in the 3rd quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 490 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of LKQ by 33.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock worth $46,000 after buying an additional 289 shares during the period. Finally, Banque Cantonale Vaudoise grew its holdings in LKQ by 29.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock worth $50,000 after acquiring an additional 278 shares during the period. Institutional investors own 95.63% of the company’s stock.

LKQ Company Profile

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.