JPMorgan Chase & Co. Cuts LKQ (NASDAQ:LKQ) Price Target to $48.00

LKQ (NASDAQ:LKQ) had its price target lowered by JPMorgan Chase & Co. from $50.00 to $48.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

LKQ has been the subject of a number of other research reports. Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Friday, October 25th. Stifel Nicolaus cut their target price on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Robert W. Baird cut their target price on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, LKQ has a consensus rating of “Buy” and a consensus target price of $52.40.

LKQ Price Performance

Shares of NASDAQ:LKQ opened at $38.60 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $10.03 billion, a PE ratio of 14.40 and a beta of 1.29. LKQ has a twelve month low of $35.56 and a twelve month high of $53.68. The company has a 50-day moving average price of $37.51 and a two-hundred day moving average price of $38.78.

Insider Transactions at LKQ

In other news, Director Dominick P. Zarcone sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $36.14, for a total value of $180,700.00. Following the sale, the director now directly owns 369,462 shares of the company’s stock, valued at approximately $13,352,356.68. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On LKQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in LKQ by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,977,708 shares of the auto parts company’s stock valued at $478,150,000 after purchasing an additional 33,212 shares in the last quarter. State Street Corp raised its stake in LKQ by 1.2% in the third quarter. State Street Corp now owns 11,449,166 shares of the auto parts company’s stock valued at $457,051,000 after purchasing an additional 134,176 shares in the last quarter. Nordea Investment Management AB raised its stake in LKQ by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock valued at $309,609,000 after purchasing an additional 833,519 shares in the last quarter. Geode Capital Management LLC raised its stake in LKQ by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,591,553 shares of the auto parts company’s stock valued at $241,643,000 after purchasing an additional 48,813 shares in the last quarter. Finally, FMR LLC raised its stake in LKQ by 7.3% in the third quarter. FMR LLC now owns 6,020,689 shares of the auto parts company’s stock valued at $240,346,000 after purchasing an additional 411,390 shares in the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

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.