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

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

LCII has been the topic of a number of other research reports. Raymond James assumed coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Truist Financial increased their price objective on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. One research 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 currently has an average rating of “Hold” and a consensus target price of $112.20.

LCI Industries Price Performance

LCII opened at $102.69 on Wednesday. The stock has a fifty day moving average price of $115.07 and a 200 day moving average price of $113.02. The company has a current ratio of 2.88, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. LCI Industries has a 1 year low of $96.18 and a 1 year high of $129.96. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 19.98 and a beta of 1.41.

LCI Industries (NYSE:LCII) last announced its quarterly earnings results 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. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. During the same period in the previous year, the company earned $1.02 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. Analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend 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 currently 89.49%.

Insider Buying and Selling at LCI Industries

In other news, CEO Jason Lippert sold 10,000 shares of the business’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 owns 373,145 shares in the company, valued at approximately $47,016,270. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On LCI Industries

Hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in LCI Industries in the 2nd quarter valued at approximately $438,000. Cornercap Investment Counsel Inc. acquired a new position in shares of LCI Industries in the second quarter valued at $529,000. Charles Schwab Investment Management Inc. lifted its position in LCI Industries by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company’s stock worth $49,575,000 after purchasing an additional 29,192 shares during the period. International Assets Investment Management LLC boosted its stake in LCI Industries by 5,533.7% during the third quarter. International Assets Investment Management LLC now owns 10,366 shares of the company’s stock worth $1,250,000 after buying an additional 10,182 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in LCI Industries by 1,289.3% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the company’s stock valued at $47,000 after buying an additional 361 shares during the period. Institutional investors own 99.71% of the company’s stock.

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.