NEW YORK (TheStreet) -- LKQ (LKQ - Get Report) shares are up 6.29% to $26.85 in trading on Thursday after the car replacement parts provider reported its first-quarter earnings results before the opening bell today.

The Chicago-based company reported first quarter net income of $107.1 million, which translated to earnings of 36 cents per adjusted share, one cent better than the 35 cents it reported in the year ago period and topping analysts' expectations of 32 cents per share.

Revenue for the period increased 9% over the previous year to $1.77 billion, in line with analysts' guidance for the period.

Separately, TheStreet Ratings team rates LKQ CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate LKQ CORP (LKQ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

LKQ Chart LKQ data by YCharts

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