LCI Industries (NYSE:LCII) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of LCI Industries (NYSE:LCIIGet Rating) from a strong-buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “LCI Industries is a supplier of components to the recreational vehicle and manufactured housing industries as well as adjacent industries including bus, cargo and equestrian trailer, marine and heavy truck. The company’s product portfolio includes awnings, suspension enhancement, chassis, doors and laminates, electronics, interior, software and apps, windows and glass, thermoformed bath and kitchen products. LCI Industries, formerly known as formerly Drew Industries Incorporated, is based in Elkhart, Indiana. “

A number of other equities analysts have also recently weighed in on the company. StockNews.com assumed coverage on LCI Industries in a report on Thursday, March 31st. They issued a hold rating for the company. Truist Financial cut their price target on LCI Industries from $175.00 to $165.00 in a report on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $151.75.

Shares of LCII stock opened at $106.33 on Wednesday. The stock has a fifty day moving average price of $116.60 and a 200 day moving average price of $135.00. The stock has a market cap of $2.70 billion, a PE ratio of 9.40 and a beta of 1.51. LCI Industries has a 1 year low of $99.22 and a 1 year high of $163.33. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 2.50.

LCI Industries (NYSE:LCIIGet Rating) last issued its quarterly earnings data on Thursday, February 10th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.43. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.12 billion. LCI Industries had a return on equity of 28.34% and a net margin of 6.43%. LCI Industries’s revenue was up 55.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 earnings per share. As a group, equities research analysts predict that LCI Industries will post 14.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $3.60 annualized dividend and a yield of 3.39%. LCI Industries’s payout ratio is currently 31.83%.

In other news, Director Kieran M. O’sullivan purchased 5,000 shares of the stock in a transaction on Tuesday, March 8th. The stock was purchased at an average price of $112.00 per share, with a total value of $560,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Gero purchased 10,000 shares of the stock in a transaction on Thursday, March 31st. The shares were purchased at an average cost of $105.52 per share, with a total value of $1,055,200.00. The disclosure for this purchase can be found here. Insiders purchased 27,515 shares of company stock valued at $2,966,138 over the last quarter. Insiders own 2.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB grew its position in LCI Industries by 1.3% during the first quarter. Nordea Investment Management AB now owns 67,422 shares of the company’s stock valued at $7,197,000 after acquiring an additional 868 shares during the period. Okabena Investment Services Inc. purchased a new stake in LCI Industries during the fourth quarter valued at about $29,000. Norges Bank purchased a new stake in LCI Industries during the fourth quarter valued at about $32,114,000. California State Teachers Retirement System grew its position in LCI Industries by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 34,880 shares of the company’s stock valued at $5,437,000 after acquiring an additional 827 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of LCI Industries by 1.7% in the fourth quarter. Parametric Portfolio Associates LLC now owns 156,557 shares of the company’s stock worth $24,402,000 after buying an additional 2,685 shares during the period. 97.58% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Company Profile (Get Rating)

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; appliances; air conditioners; televisions and sound systems; and other accessories.

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