LCI Industries (NYSE:LCII) Rating Increased to Buy at StockNews.com

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.

LCII has been the subject of several other reports. Raymond James began coverage on shares of LCI Industries in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Truist Financial lifted their price target on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.20.

LCI Industries Stock Performance

Shares of LCII opened at $103.66 on Wednesday. The company has a market cap of $2.64 billion, a PE ratio of 20.17 and a beta of 1.41. The firm has a 50-day moving average of $115.84 and a 200-day moving average of $113.15. LCI Industries has a one year low of $96.18 and a one year high of $131.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.88 and a quick ratio of 1.25.

LCI Industries (NYSE:LCII) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $915.50 million for the quarter, compared to analyst estimates 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 company earned $1.02 earnings per share. As a group, equities analysts forecast that LCI Industries will post 5.51 earnings per share for the current year.

LCI Industries Increases Dividend

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

Insider Activity at LCI Industries

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the completion of the transaction, the chief executive officer now owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. The trade was a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LCI Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in LCI Industries by 1,289.3% in the third quarter. Blue Trust Inc. now owns 389 shares of the company’s stock valued at $47,000 after buying an additional 361 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of LCI Industries during the 3rd quarter valued at $49,000. GAMMA Investing LLC grew its position in LCI Industries by 98.2% during the 3rd quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $66,000 after acquiring an additional 272 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of LCI Industries by 99.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock worth $77,000 after purchasing an additional 370 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in LCI Industries during the 2nd quarter worth approximately $93,000. 99.71% of the stock is owned by institutional investors.

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.