LCI Industries (NYSE:LCII) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of LCI Industries (NYSE:LCII) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other equities analysts also recently commented on LCII. Truist Financial reduced their price objective on shares of LCI Industries from $108.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 14th. 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 report on Wednesday, May 7th. CJS Securities raised LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Wednesday, February 12th. Finally, Baird R W cut LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $112.50.

LCI Industries Stock Performance

LCII stock opened at $88.78 on Tuesday. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38. The business has a 50-day moving average price of $83.51 and a 200 day moving average price of $99.43. The company has a market capitalization of $2.24 billion, a P/E ratio of 15.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03.

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

LCI Industries declared that its board has initiated a stock buyback program on Thursday, May 15th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a yield of 5.18%. LCI Industries’s payout ratio is 75.41%.

Hedge Funds Weigh In On LCI Industries

A number of large investors have recently made changes to their positions in LCII. Millennium Management LLC lifted its holdings in shares of LCI Industries by 482.2% during the 1st quarter. Millennium Management LLC now owns 635,540 shares of the company’s stock valued at $55,565,000 after purchasing an additional 526,378 shares during the last quarter. Norges Bank acquired a new position in LCI Industries during the 4th quarter valued at about $26,402,000. Boston Partners purchased a new stake in LCI Industries in the first quarter valued at about $20,721,000. Jane Street Group LLC raised its stake in LCI Industries by 651.1% in the first quarter. Jane Street Group LLC now owns 234,864 shares of the company’s stock valued at $20,534,000 after buying an additional 203,594 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in LCI Industries by 46.1% in the fourth quarter. Royce & Associates LP now owns 546,623 shares of the company’s stock worth $56,515,000 after acquiring an additional 172,586 shares in the last quarter. 99.71% of the stock is 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.