LKQ (NASDAQ:LKQ) Updates FY 2024 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.380-3.520 for the period, compared to the consensus earnings per share estimate of 3.530. The company issued revenue guidance of -. LKQ also updated its FY24 guidance to $3.38-3.52 EPS.

LKQ Trading Down 0.3 %

NASDAQ LKQ traded down $0.11 during mid-day trading on Thursday, reaching $37.67. 3,907,311 shares of the stock were exchanged, compared to its average volume of 1,899,314. LKQ has a 1-year low of $35.57 and a 1-year high of $53.68. The business’s fifty day simple moving average is $40.12 and its 200 day simple moving average is $42.11. The stock has a market capitalization of $10.05 billion, a PE ratio of 12.26 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.70 and a current ratio of 1.75.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a return on equity of 15.33% and a net margin of 5.03%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. On average, research analysts anticipate that LKQ will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LKQ shares. Barrington Research reaffirmed an “outperform” rating and set a $60.00 price target on shares of LKQ in a research note on Wednesday, September 18th. Robert W. Baird cut their price target on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com downgraded shares of LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Roth Mkm restated a “buy” rating and set a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Insider Buying and Selling at LKQ

In other news, SVP Matthew J. Mckay acquired 2,500 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average price of $39.75 per share, with a total value of $99,375.00. Following the purchase, the senior vice president now owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Matthew J. Mckay bought 2,500 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the completion of the purchase, the senior vice president now directly owns 94,670 shares of the company’s stock, valued at $3,763,132.50. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew C. Clarke purchased 7,600 shares of LKQ stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $39.70 per share, with a total value of $301,720.00. Following the transaction, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 12,600 shares of company stock valued at $500,870 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

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.