LCI Industries (NYSE:LCII) to Repurchase $300.00 million in Stock

LCI Industries (NYSE:LCII) declared that its Board of Directors has approved a share repurchase plan on Thursday, May 15th, RTT News reports. The company plans to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

LCI Industries Stock Performance

Shares of NYSE:LCII opened at $88.90 on Friday. The business’s fifty day moving average price is $83.46 and its two-hundred day moving average price is $100.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.88 and a beta of 1.26. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.55 by $0.64. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $972.04 million. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 earnings per share. As a group, analysts predict that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 5.17%. LCI Industries’s payout ratio is presently 75.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LCII shares. Truist Financial cut their target price on LCI Industries from $108.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 14th. CJS Securities upgraded LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Wednesday, February 12th. Robert W. Baird cut their target price on LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. StockNews.com upgraded LCI Industries from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Baird R W lowered LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, LCI Industries currently has an average rating of “Hold” and an average target price of $112.50.

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.