BidaskClub Downgrades LCI Industries (LCII) to Buy
LCI Industries (NASDAQ:LCII) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.
A number of other analysts have also recently issued reports on LCII. Robert W. Baird increased their price objective on LCI Industries from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday. Zacks Investment Research cut LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. LCI Industries has a consensus rating of “Hold” and an average target price of $114.67.
Shares of LCI Industries (LCII) traded up $2.15 on Friday, reaching $118.30. The company had a trading volume of 152,297 shares, compared to its average volume of 160,985. LCI Industries has a twelve month low of $85.00 and a twelve month high of $129.20.
LCI Industries (NASDAQ:LCII) last issued its quarterly earnings data on Friday, August 4th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. The business had revenue of $547.00 million for 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 for the quarter was up 24.0% compared to the same quarter last year.
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In other LCI Industries news, President Scott T. Mereness purchased 3,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased 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 in the company, valued at approximately $19,355,868. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jamie Schnur sold 1,100 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $115.46, for a total value of $127,006.00. Following the completion of the sale, the insider now directly owns 6,347 shares in the company, valued at approximately $732,824.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,210 shares of company stock worth $2,886,934.
Large investors have recently added to or reduced their stakes in the business. Bruderman Asset Management LLC purchased a new stake in shares of LCI Industries in the 2nd quarter valued at about $122,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of LCI Industries in the 2nd quarter valued at about $124,000. Riverhead Capital Management LLC raised its holdings in shares of LCI Industries by 74.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock valued at $143,000 after acquiring an additional 599 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of LCI Industries in the 2nd quarter valued at about $144,000. Finally, Pitcairn Co. purchased a new stake in shares of LCI Industries in the 3rd quarter valued at about $200,000.
About LCI Industries
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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