Truist Financial Issues Pessimistic Forecast for LCI Industries (NYSE:LCII) Stock Price

LCI Industries (NYSE:LCII) had its price target reduced by research analysts at Truist Financial from $108.00 to $102.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential downside of 0.77% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James assumed coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. StockNews.com upgraded LCI Industries from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $111.00.

LCI Industries Stock Performance

NYSE:LCII traded down $1.87 during trading hours on Tuesday, reaching $102.79. The stock had a trading volume of 17,859 shares, compared to its average volume of 165,075. The stock has a market cap of $2.62 billion, a P/E ratio of 20.00 and a beta of 1.44. The stock has a 50 day simple moving average of $113.30 and a 200 day simple moving average of $113.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. LCI Industries has a 12-month low of $96.18 and a 12-month high of $129.38.

LCI Industries (NYSE:LCII) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million during 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 firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. On average, research analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jason Lippert sold 10,000 shares of LCI Industries 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 sale, the chief executive officer now owns 373,145 shares in the company, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On LCI Industries

Several hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB bought a new stake in LCI Industries in the fourth quarter valued at $2,394,000. Principal Financial Group Inc. grew its holdings in shares of LCI Industries by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock worth $76,202,000 after acquiring an additional 36,487 shares during the period. Franklin Resources Inc. raised its position in shares of LCI Industries by 11.0% in the 3rd quarter. Franklin Resources Inc. now owns 317,439 shares of the company’s stock worth $37,607,000 after acquiring an additional 31,376 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of LCI Industries by 2.4% in the 3rd quarter. Tidal Investments LLC now owns 9,402 shares of the company’s stock valued at $1,133,000 after purchasing an additional 223 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of LCI Industries during the third quarter valued at approximately $49,000. 99.71% of the stock is currently 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.