Short Interest in LKQ Co. (NASDAQ:LKQ) Decreases By 13.3%

LKQ Co. (NASDAQ:LKQ) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,240,000 shares, a decrease of 13.3% from the October 15th total of 4,890,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is currently 2.7 days.

LKQ Stock Performance

LKQ stock traded up $0.43 during trading on Friday, reaching $45.48. 622,484 shares of the stock were exchanged, compared to its average volume of 1,420,117. The stock has a 50 day simple moving average of $47.98 and a 200-day simple moving average of $52.58. The company has a current ratio of 1.49, a quick ratio of 0.64 and a debt-to-equity ratio of 0.63. LKQ has a twelve month low of $41.49 and a twelve month high of $59.38. The company has a market capitalization of $12.17 billion, a P/E ratio of 12.67 and a beta of 1.34.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.10). LKQ had a net margin of 7.13% and a return on equity of 17.48%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that LKQ will post 3.75 earnings per share for the current year.

LKQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be paid a $0.30 dividend. This is a positive change from LKQ’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, November 15th. LKQ’s dividend payout ratio is currently 33.71%.

Wall Street Analysts Forecast Growth

LKQ has been the subject of several research analyst reports. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Robert W. Baird reissued an “outperform” rating and issued a $65.00 price objective on shares of LKQ in a research report on Monday, August 28th.

Insiders Place Their Bets

In other news, CEO Dominick P. Zarcone sold 32,000 shares of LKQ stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $51.74, for a total value of $1,655,680.00. Following the transaction, the chief executive officer now owns 495,004 shares of the company’s stock, valued at $25,611,506.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Trading of LKQ

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in LKQ by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,096,883 shares of the auto parts company’s stock valued at $119,019,000 after purchasing an additional 12,111 shares in the last quarter. Commerce Bank increased its holdings in shares of LKQ by 7.4% in the first quarter. Commerce Bank now owns 22,293 shares of the auto parts company’s stock valued at $1,265,000 after purchasing an additional 1,535 shares in the last quarter. SG Americas Securities LLC raised its position in LKQ by 266.8% in the 2nd quarter. SG Americas Securities LLC now owns 43,306 shares of the auto parts company’s stock worth $2,523,000 after purchasing an additional 31,498 shares during the last quarter. Private Advisor Group LLC bought a new position in LKQ in the 1st quarter valued at $335,000. Finally, Apollon Wealth Management LLC increased its position in LKQ by 16.8% in the second quarter. Apollon Wealth Management LLC now owns 13,314 shares of the auto parts company’s stock worth $776,000 after purchasing an additional 1,917 shares during the period. Institutional investors and hedge funds own 93.67% 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 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.