LKQ (NASDAQ:LKQ) Updates FY24 Earnings Guidance

LKQ (NASDAQ:LKQ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.38-3.52 for the period, compared to the consensus estimate of $3.53. LKQ also updated its FY 2024 guidance to 3.380-3.520 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LKQ shares. Stifel Nicolaus decreased their target price on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Robert W. Baird cut their target price on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday. Roth Mkm reiterated a “buy” rating and set a $59.00 price target on shares of LKQ in a research note on Thursday, September 12th. Finally, StockNews.com cut shares of LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, LKQ presently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

LKQ Price Performance

LKQ stock traded down $0.12 during trading on Friday, hitting $37.55. The company had a trading volume of 2,638,193 shares, compared to its average volume of 1,902,895. The company has a current ratio of 1.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $40.07 and a two-hundred day moving average price of $42.08. LKQ has a fifty-two week low of $35.57 and a fifty-two week high of $53.68. The company has a market cap of $9.89 billion, a P/E ratio of 13.76 and a beta of 1.28.

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. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. Equities research analysts expect that LKQ will post 3.54 earnings per share for the current fiscal year.

Insider Activity

In other LKQ news, SVP Matthew J. Mckay bought 2,500 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were bought at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the completion of the acquisition, the senior vice president now owns 94,670 shares of the company’s stock, valued at approximately $3,763,132.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

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.