In a report released today, Gary Prestopino from Barrington maintained a Buy rating on LKQ Corp (NASDAQ: LKQ), with a price target of $45. The company’s shares closed on Friday at $33.95.
Prestopino observed:
“We continue to believe that LKQ’s fundamental outlook remains strong driven by market share gains domestically and internationally. We are increasing our 2018 and 2019 adjusted EPS estimates to $2.29 and $2.62 from $2.24 and $2.60, respectively. We are maintaining our OUTPERFORM investment rating and $45 price target on the shares.”
According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 11.8% and a 66.7% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Liquidity Services, and Ritchie Bros.
LKQ Corp has an analyst consensus of Strong Buy, with a price target consensus of $40.71, implying a 19.9% upside from current levels. In a report issued on July 26, Stifel Nicolaus also reiterated a Buy rating on the stock with a $42 price target.
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Based on LKQ Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $157 million. In comparison, last year the company had a net profit of $151 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LKQ in relation to earlier this year. Most recently, in April 2018, William Webster, a Director at LKQ bought 60,000 shares for a total of $358,200.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
LKQ Corp. engages in providing alternative parts to repair and accessorize automobiles and other vehicles. It operates through the following segments: Wholesale-North America, Europe, and Specialty. The Wholesale-North America segment includes Glass and Self Service segments.
