LKQ Co. (LKQ) Position Cut by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC cut its position in shares of LKQ Co. (NASDAQ:LKQ) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,088,343 shares of the auto parts company’s stock after selling 33,775 shares during the quarter. LKQ accounts for about 8.2% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 2nd largest holding. 12th Street Asset Management Company LLC’s holdings in LKQ were worth $34,468,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in LKQ in the second quarter valued at $115,000. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of LKQ by 2,700.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 4,200 shares of the auto parts company’s stock valued at $133,000 after purchasing an additional 4,050 shares during the period. Assetmark Inc. increased its holdings in shares of LKQ by 7,663.0% during 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 increased its holdings in shares of LKQ by 229.9% during 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, Denali Advisors LLC acquired a new position in shares of LKQ during the second quarter valued at $175,000. Institutional investors own 89.46% of the company’s stock.

A number of research firms recently issued reports on LKQ. Zacks Investment Research raised LKQ from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday, August 7th. Raymond James lowered their target price on LKQ from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Barrington Research reaffirmed a “buy” rating and set a $45.00 target price on shares of LKQ in a report on Thursday, July 26th. TheStreet lowered LKQ from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Finally, BidaskClub lowered LKQ from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $43.25.

In related news, insider Dominick P. Zarcone purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average price of $26.55 per share, with a total value of $53,100.00. Following the purchase, the insider now owns 259,080 shares of the company’s stock, valued at approximately $6,878,574. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Varun Laroyia purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $26.50 per share, for a total transaction of $26,500.00. Following the purchase, the vice president now directly owns 75,673 shares in the company, valued at approximately $2,005,334.50. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.

NASDAQ:LKQ opened at $28.66 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 15.24, a PEG ratio of 0.84 and a beta of 1.27. LKQ Co. has a 52-week low of $25.35 and a 52-week high of $43.86. The company has a current ratio of 2.65, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

LKQ (NASDAQ:LKQ) last released its earnings results on Thursday, October 25th. The auto parts company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.12 billion. LKQ had a return on equity of 14.55% and a net margin of 5.01%. Sell-side analysts anticipate that LKQ Co. will post 2.21 earnings per share for the current fiscal year.

LKQ declared that its Board of Directors has authorized a share buyback program on Thursday, October 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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LKQ Profile

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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Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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