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.

Several other research firms have also weighed in on LCII. Raymond James started coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Truist Financial lifted their price objective on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $112.20.

LCI Industries Trading Down 1.6 %

Shares of LCII opened at $102.69 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 stock has a market cap of $2.61 billion, a PE ratio of 19.98 and a beta of 1.41. LCI Industries has a 1 year low of $96.18 and a 1 year high of $129.96. The stock has a 50 day simple moving average of $115.07 and a 200-day simple moving average of $113.02.

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, topping the consensus estimate of $1.31 by $0.08. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The firm had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. During the same period in the prior year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, sell-side analysts predict that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, November 29th. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s payout ratio is 89.49%.

Insiders Place Their Bets

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 373,145 shares in the company, valued at approximately $47,016,270. This represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LCI Industries

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

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.