LCI Industries (LCII) Upgraded to Buy by BidaskClub
LCI Industries (NASDAQ:LCII) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Several other equities analysts have also recently weighed in on the company. Robert W. Baird restated a “buy” rating and issued a $115.00 price objective on shares of LCI Industries in a report on Friday, August 25th. Zacks Investment Research cut LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $112.33.
LCI Industries (LCII) traded down 0.98% during mid-day trading on Friday, hitting $105.90. The stock had a trading volume of 200,321 shares. The stock’s 50-day moving average is $99.66 and its 200 day moving average is $99.00. The company has a market capitalization of $2.64 billion and a P/E ratio of 19.12. LCI Industries has a 52 week low of $80.65 and a 52 week high of $117.15.
LCI Industries (NASDAQ:LCII) last announced its quarterly earnings data on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.03. The company had revenue of $547.00 million during the quarter, compared to analysts’ expectations of $507.56 million. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The company’s revenue was up 24.0% compared to the same quarter last year. Equities analysts forecast that LCI Industries will post $5.79 earnings per share for the current fiscal year.
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In related news, insider Nick C. Fletcher sold 1,617 shares of LCI Industries stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $105.44, for a total transaction of $170,496.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Scott T. Mereness purchased 3,000 shares of LCI Industries stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $94.50 per share, with a total value of $283,500.00. Following the acquisition, the president now directly owns 204,824 shares of the company’s stock, valued at approximately $19,355,868. The disclosure for this purchase can be found here.
Institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC grew its holdings in LCI Industries by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 1,656,911 shares of the company’s stock worth $169,668,000 after purchasing an additional 13,647 shares during the period. Intrust Bank NA grew its holdings in LCI Industries by 20.3% during the second quarter. Intrust Bank NA now owns 2,811 shares of the company’s stock worth $288,000 after purchasing an additional 475 shares during the period. Sei Investments Co. grew its holdings in LCI Industries by 2,623.4% during the second quarter. Sei Investments Co. now owns 11,983 shares of the company’s stock worth $1,228,000 after purchasing an additional 11,543 shares during the period. Teacher Retirement System of Texas bought a new position in LCI Industries during the second quarter worth about $202,000. Finally, Fortaleza Asset Management Inc. bought a new position in LCI Industries during the second quarter worth about $144,000.
LCI Industries Company Profile
LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.
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