LCI Industries (NYSE:LCII) Cut to “Hold” at StockNews.com

LCI Industries (NYSE:LCII) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts also recently issued reports about the stock. Truist Financial dropped their target price on shares of LCI Industries from $108.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Baird R W downgraded shares of LCI Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Robert W. Baird dropped their target price on shares of LCI Industries from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Finally, CJS Securities raised shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, LCI Industries presently has an average rating of “Hold” and an average target price of $112.50.

LCI Industries Stock Up 0.2%

NYSE LCII opened at $91.50 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The company’s 50 day simple moving average is $83.46 and its 200 day simple moving average is $99.72. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The company has a market capitalization of $2.31 billion, a P/E ratio of 16.34 and a beta of 1.26.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, topping 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 period in the previous year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts expect that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries declared that its Board of Directors has approved a share buyback plan on Thursday, May 15th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in LCI Industries by 15.7% during the first quarter. Covestor Ltd now owns 885 shares of the company’s stock valued at $77,000 after purchasing an additional 120 shares in the last quarter. Summit Investment Advisors Inc. grew its position in LCI Industries by 5.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company’s stock valued at $268,000 after purchasing an additional 130 shares in the last quarter. Smartleaf Asset Management LLC grew its position in LCI Industries by 45.5% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock valued at $47,000 after purchasing an additional 167 shares in the last quarter. Keybank National Association OH grew its position in LCI Industries by 7.1% during the fourth quarter. Keybank National Association OH now owns 3,049 shares of the company’s stock valued at $315,000 after purchasing an additional 202 shares in the last quarter. Finally, Inspire Advisors LLC grew its position in LCI Industries by 3.6% during the fourth quarter. Inspire Advisors LLC now owns 5,907 shares of the company’s stock valued at $611,000 after purchasing an additional 206 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.