LCI Industries (NYSE:LCII) Given Average Rating of “Hold” by Brokerages

Shares of LCI Industries (NYSE:LCII) have earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $114.50.

Several research firms recently commented on LCII. Robert W. Baird cut their price target on LCI Industries from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Baird R W cut LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Wall Street Zen cut LCI Industries from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Truist Financial upped their price objective on LCI Industries from $80.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd.

LCI Industries Trading Up 2.4%

NYSE:LCII opened at $98.57 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. LCI Industries has a one year low of $72.31 and a one year high of $129.38. The business’s 50-day simple moving average is $89.16 and its 200 day simple moving average is $93.42. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 16.16 and a beta of 1.26.

LCI Industries (NYSE:LCII) last released its quarterly 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. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $972.04 million. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.67%. The ex-dividend date was Friday, May 30th. LCI Industries’s payout ratio is currently 75.41%.

LCI Industries announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 13.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of LCI Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of LCI Industries by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,423 shares of the company’s stock worth $45,122,000 after purchasing an additional 25,145 shares during the period. Smartleaf Asset Management LLC raised its position in shares of LCI Industries by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company’s stock worth $37,000 after purchasing an additional 247 shares during the period. Nuveen Asset Management LLC raised its position in shares of LCI Industries by 12.7% during the 4th quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company’s stock worth $10,000,000 after purchasing an additional 10,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of LCI Industries by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,145 shares of the company’s stock worth $7,149,000 after purchasing an additional 10,498 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of LCI Industries during the 4th quarter worth approximately $558,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

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.