LCI Industries (NYSE:LCII) Hits New 1-Year High – Here’s Why

LCI Industries (NYSE:LCII)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $123.00 and last traded at $120.9750, with a volume of 58902 shares. The stock had previously closed at $121.53.

Analysts Set New Price Targets

Several research analysts have commented on LCII shares. BMO Capital Markets raised LCI Industries from an “underperform” rating to a “market perform” rating and set a $110.00 target price on the stock in a report on Monday, November 3rd. Roth Capital boosted their target price on shares of LCI Industries from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Loop Capital assumed coverage on shares of LCI Industries in a research note on Friday, October 31st. They set a “buy” rating and a $116.00 target price on the stock. Robert W. Baird lifted their price target on shares of LCI Industries from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Truist Financial upped their price objective on shares of LCI Industries from $88.00 to $91.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.67.

LCI Industries Price Performance

The stock has a market capitalization of $2.93 billion, a P/E ratio of 16.90 and a beta of 1.32. The business has a fifty day simple moving average of $104.64 and a 200 day simple moving average of $99.77. The company has a current ratio of 2.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Tuesday, June 7th. The company reported $2.93 earnings per share for the quarter. The company had revenue of $1 billion for the quarter. LCI Industries had a net margin of 4.49% and a return on equity of 12.60%. On average, analysts expect that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $1.15 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $4.60 annualized dividend and a yield of 3.8%. LCI Industries’s payout ratio is currently 64.34%.

Institutional Investors Weigh In On LCI Industries

Several large investors have recently made changes to their positions in LCII. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in LCI Industries in the second quarter worth about $26,000. SVB Wealth LLC bought a new position in LCI Industries during the first quarter valued at $28,000. Signaturefd LLC increased its holdings in LCI Industries by 591.5% in the 2nd quarter. Signaturefd LLC now owns 325 shares of the company’s stock worth $30,000 after acquiring an additional 278 shares during the last quarter. State of Wyoming purchased a new position in shares of LCI Industries in the first quarter worth about $46,000. Finally, Smartleaf Asset Management LLC grew its stake in LCI Industries by 45.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock valued at $47,000 after buying an additional 167 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

About LCI Industries

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.