LCI Industries (NYSE:LCII) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of LCI Industries (NYSE:LCII) from a hold rating to a buy rating in a research report released on Wednesday morning.

Other analysts have also issued reports about the company. Raymond James began coverage on LCI Industries in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Truist Financial raised their target price on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $112.20.

LCI Industries Price Performance

Shares of LCII stock opened at $103.66 on Wednesday. The company has a current ratio of 2.88, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 20.17 and a beta of 1.41. The firm’s 50 day moving average is $115.84 and its 200-day moving average is $113.15. LCI Industries has a 1 year low of $96.18 and a 1 year high of $131.36.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.08. The firm had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 EPS. Sell-side analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $1.15 dividend. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, November 29th. LCI Industries’s dividend payout ratio is 89.49%.

Insider Transactions at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the sale, the chief executive officer now directly owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.

Institutional Trading of LCI Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of LCI Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after acquiring an additional 62,354 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in LCI Industries by 6.1% during the third quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock worth $76,202,000 after purchasing an additional 36,487 shares during the last quarter. Victory Capital Management Inc. grew its position in LCI Industries by 2.5% in the third quarter. Victory Capital Management Inc. now owns 621,218 shares of the company’s stock valued at $74,882,000 after purchasing an additional 14,969 shares in the last quarter. Geode Capital Management LLC increased its stake in LCI Industries by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 564,761 shares of the company’s stock valued at $68,090,000 after buying an additional 1,688 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in LCI Industries by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after buying an additional 97,877 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

LCI Industries Company Profile

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.