Hi Pat and friends: I’m rebalancing my portfolio and would like to add another auto related stock (I already hold your recommendation Linamar). What is your opinion of LKQ Corp. listed on Nasdaq. Always appreciate your advice in the newsletters. Thanks.
A: LKQ Corp., $32.10, symbol LKQ on Nasdaq (Shares outstanding: 306.7 million; Market cap: $9.9 billion; www.lkqcorp.com), sells replacement parts for cars and light trucks in North America and Europe.
The company does not manufacture these parts. Instead, it buys wrecked vehicles at auctions and distributes reusable parts to collision repair shops. It also sells refurbished parts to consumers through over 100 company-owned retail outlets in the U.S.
LKQ stands for “Like, Kind & Quality.” That’s a term for recycled or refurbished replacement parts that are acceptable to insurers in auto claims.
The company’s sales jumped 120.0%, from $3.3 billion in 2011 to $7.2 billion in 2015. Earnings gained 99.2%, from $219.2 million to $436.7 million; due to more shares outstanding, earnings per share rose 91.9%, from $0.74 to $1.42.
LKQ fuels its growth with acquisitions. In 2015, it spent $160.5 million buying 18 businesses.
Since the start of 2016, the company has completed two big acquisitions. It paid $602.0 million for Rhiag-Inter Auto Parts…
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