LCI Industries (NYSE:LCII) Sees Significant Increase in Short Interest

LCI Industries (NYSE:LCII) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,720,000 shares, an increase of 6.3% from the October 15th total of 2,560,000 shares. Based on an average trading volume of 237,800 shares, the days-to-cover ratio is currently 11.4 days. Currently, 11.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

LCII has been the topic of a number of analyst reports. Truist Financial dropped their price target on LCI Industries from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. DA Davidson cut LCI Industries from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $113.00 to $91.00 in a research report on Friday, October 6th. TheStreet cut LCI Industries from a “b-” rating to a “c” rating in a research report on Tuesday, November 7th. StockNews.com initiated coverage on LCI Industries in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, CJS Securities cut LCI Industries from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.50.

LCI Industries Price Performance

Shares of NYSE LCII opened at $113.91 on Friday. LCI Industries has a twelve month low of $89.89 and a twelve month high of $137.07. The firm has a market cap of $2.89 billion, a P/E ratio of 58.71 and a beta of 1.48. The company has a 50 day moving average of $114.11 and a 200 day moving average of $119.37. The company has a quick ratio of 1.06, a current ratio of 2.97 and a debt-to-equity ratio of 0.66.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, November 7th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.36). The company had revenue of $959.32 million for the quarter, compared to analysts’ expectations of $1.01 billion. LCI Industries had a net margin of 1.29% and a return on equity of 3.61%. LCI Industries’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 earnings per share. As a group, research analysts expect that LCI Industries will post 3.08 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $1.05 per share. The ex-dividend date is Thursday, November 30th. This represents a $4.20 dividend on an annualized basis and a yield of 3.69%. LCI Industries’s dividend payout ratio is presently 216.50%.

Institutional Investors Weigh In On LCI Industries

A number of hedge funds have recently added to or reduced their stakes in LCII. O Shaughnessy Asset Management LLC grew its position in shares of LCI Industries by 3.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,469 shares of the company’s stock valued at $290,000 after acquiring an additional 93 shares during the period. CWM LLC grew its position in shares of LCI Industries by 69.1% during the 2nd quarter. CWM LLC now owns 230 shares of the company’s stock valued at $29,000 after acquiring an additional 94 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of LCI Industries by 4.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,042 shares of the company’s stock valued at $258,000 after acquiring an additional 94 shares during the period. Raymond James Trust N.A. grew its position in shares of LCI Industries by 2.8% during the 1st quarter. Raymond James Trust N.A. now owns 3,427 shares of the company’s stock valued at $355,000 after acquiring an additional 94 shares during the period. Finally, Arizona State Retirement System grew its position in shares of LCI Industries by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 7,203 shares of the company’s stock valued at $846,000 after acquiring an additional 97 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

About LCI Industries

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; electronic components; appliances; air conditioners; televisions and sound systems; tankless water heaters; towing products; truck accessories; and other accessories.