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

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

Separately, Truist Financial reduced their price target on LCI Industries from $108.00 to $102.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, LCI Industries currently has an average rating of “Moderate Buy” and an average price target of $113.75.

LCI Industries Stock Performance

LCII opened at $100.81 on Friday. The firm has a fifty day moving average price of $107.49 and a 200 day moving average price of $113.10. LCI Industries has a 1 year low of $96.18 and a 1 year high of $129.38. The stock has a market cap of $2.57 billion, a P/E ratio of 19.61 and a beta of 1.44. 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 for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The company had revenue of $915.50 million during the quarter, compared to analysts’ expectations of $922.85 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts anticipate that LCI Industries will post 5.51 earnings per share for the current year.

LCI Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, November 29th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s dividend payout ratio is presently 89.49%.

Insider Activity at LCI Industries

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in LCI Industries by 205.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 367 shares of the company’s stock worth $37,000 after buying an additional 247 shares in the last quarter. Blue Trust Inc. raised its holdings 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 acquiring an additional 361 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of LCI Industries during the 3rd quarter valued at about $49,000. GAMMA Investing LLC grew its holdings in shares of 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 during the period. Finally, nVerses Capital LLC increased its position in 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 purchasing an additional 200 shares during the last quarter. 99.71% of the stock is currently 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.