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 report published on Saturday morning.

A number of other equities analysts also recently commented on the company. Truist Financial boosted their price objective on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Raymond James assumed coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, LCI Industries presently has an average rating of “Hold” and an average price target of $112.20.

LCI Industries Price Performance

Shares of LCII opened at $104.24 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of 20.28 and a beta of 1.41. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $129.38. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $113.53 and its 200 day moving average price is $113.03.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. The business 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 company’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, research analysts forecast that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $1.15 dividend. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, November 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.41%. LCI Industries’s dividend payout ratio is presently 89.49%.

Insider Buying and Selling

In related news, CEO Jason Lippert sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 373,145 shares in the company, valued at $47,016,270. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On LCI Industries

Several large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its position in LCI Industries by 4.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,244 shares of the company’s stock valued at $232,000 after purchasing an additional 90 shares during the last quarter. Hsbc Holdings PLC increased its stake in LCI Industries by 2.6% in the second quarter. Hsbc Holdings PLC now owns 4,079 shares of the company’s stock valued at $417,000 after purchasing an additional 105 shares during the period. Arizona State Retirement System raised its holdings in shares of LCI Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 7,090 shares of the company’s stock valued at $733,000 after buying an additional 130 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of LCI Industries by 2.9% during the third quarter. SkyView Investment Advisors LLC now owns 5,069 shares of the company’s stock worth $611,000 after buying an additional 143 shares during the period. Finally, nVerses Capital LLC grew its holdings in shares of LCI Industries by 14.3% during the third quarter. nVerses Capital LLC now owns 1,600 shares of the company’s stock worth $193,000 after buying an additional 200 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

About LCI Industries

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.