LCI Industries (NYSE:LCII) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of LCI Industries (NYSE:LCIIGet Rating) from a buy rating to a hold rating in a report published on Tuesday.

Other research analysts have also issued reports about the stock. Truist Financial decreased their price objective on shares of LCI Industries to $135.00 in a report on Thursday, May 26th. DA Davidson lowered shares of LCI Industries from a buy rating to a neutral rating and set a $131.00 price objective for the company. in a report on Monday. They noted that the move was a valuation call. MKM Partners assumed coverage on shares of LCI Industries in a report on Thursday, May 5th. They issued a buy rating and a $153.00 price objective for the company. Finally, Robert W. Baird reduced their target price on shares of LCI Industries from $175.00 to $155.00 in a research report on Wednesday, May 11th.

LCI Industries Trading Down 5.2 %

NYSE:LCII opened at $121.68 on Tuesday. The company has a fifty day moving average of $117.99 and a 200 day moving average of $115.99. LCI Industries has a 52 week low of $96.32 and a 52 week high of $163.33. The company has a quick ratio of 0.93, a current ratio of 2.47 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.09 billion, a P/E ratio of 7.56 and a beta of 1.44.

LCI Industries (NYSE:LCIIGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $7.71 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $3.23. LCI Industries had a net margin of 8.01% and a return on equity of 37.57%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted $2.93 EPS. The firm’s revenue was up 64.4% compared to the same quarter last year. On average, research analysts predict that LCI Industries will post 18.81 earnings per share for the current year.

LCI Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.45%. This is an increase from LCI Industries’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, June 2nd. LCI Industries’s dividend payout ratio is 26.10%.

Insider Activity at LCI Industries

In related news, EVP Nick C. Fletcher sold 3,597 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $117.45, for a total transaction of $422,467.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Trading of LCI Industries

Several institutional investors have recently bought and sold shares of the company. Congress Asset Management Co. MA grew its position in LCI Industries by 2.3% during the 2nd quarter. Congress Asset Management Co. MA now owns 50,843 shares of the company’s stock valued at $5,688,000 after purchasing an additional 1,136 shares during the last quarter. Comerica Bank boosted its holdings in shares of LCI Industries by 0.6% during the 2nd quarter. Comerica Bank now owns 25,452 shares of the company’s stock valued at $3,203,000 after acquiring an additional 155 shares during the last quarter. Castle Wealth Management LLC purchased a new stake in shares of LCI Industries during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of LCI Industries by 436.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 553 shares of the company’s stock valued at $62,000 after acquiring an additional 450 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of LCI Industries by 20.4% during the 2nd quarter. US Bancorp DE now owns 7,965 shares of the company’s stock valued at $890,000 after acquiring an additional 1,348 shares during the last quarter. 97.77% of the stock is owned by hedge funds and other institutional investors.

About LCI Industries

(Get Rating)

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; appliances; air conditioners; televisions and sound systems; and other accessories.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for LCI Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LCI Industries and related companies with MarketBeat.com's FREE daily email newsletter.