LCI Industries (NYSE:LCII) Short Interest Up 6.3% in October

LCI Industries (NYSE:LCII) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 2,720,000 shares, a growth of 6.3% from the October 15th total of 2,560,000 shares. Based on an average daily volume of 237,800 shares, the days-to-cover ratio is presently 11.4 days. Currently, 11.2% of the shares of the stock are short sold.

LCI Industries Price Performance

Shares of NYSE:LCII opened at $114.09 on Friday. The company has a market cap of $2.89 billion, a P/E ratio of 58.81 and a beta of 1.48. The business has a fifty day simple moving average of $114.04 and a 200-day simple moving average of $119.36. LCI Industries has a 52 week low of $89.89 and a 52 week high of $137.07. The company has a quick ratio of 1.06, a current ratio of 2.97 and a debt-to-equity ratio of 0.66.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.36). LCI Industries had a net margin of 1.29% and a return on equity of 3.61%. The business had revenue of $959.32 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $2.40 EPS. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. Equities research analysts forecast that LCI Industries will post 3.08 EPS for the current year.

LCI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $1.05 dividend. The ex-dividend date is Thursday, November 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.68%. LCI Industries’s dividend payout ratio (DPR) is presently 216.50%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LCII shares. StockNews.com assumed coverage on shares of LCI Industries in a research report on Thursday, October 5th. They set a “hold” rating on the stock. CJS Securities cut LCI Industries from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 9th. TheStreet cut LCI Industries from a “b-” rating to a “c” rating in a research report on Tuesday, November 7th. Truist Financial decreased their price objective on shares of LCI Industries from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Finally, DA Davidson downgraded shares of LCI Industries from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $113.00 to $91.00 in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $111.50.

Institutional Trading of LCI Industries

Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in LCI Industries by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,174 shares of the company’s stock valued at $952,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE grew its holdings in shares of LCI Industries by 22.1% during the 1st quarter. US Bancorp DE now owns 6,617 shares of the company’s stock worth $687,000 after purchasing an additional 1,198 shares during the period. HighTower Advisors LLC acquired a new stake in LCI Industries during the 1st quarter worth approximately $342,000. PNC Financial Services Group Inc. raised its holdings in LCI Industries by 42.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,650 shares of the company’s stock valued at $482,000 after buying an additional 1,382 shares during the period. Finally, MetLife Investment Management LLC lifted its position in LCI Industries by 54.0% during the first quarter. MetLife Investment Management LLC now owns 13,198 shares of the company’s stock valued at $1,370,000 after buying an additional 4,628 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Company Profile

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; electronic components; appliances; air conditioners; televisions and sound systems; tankless water heaters; towing products; truck accessories; and other accessories.