Truist Financial Has Lowered Expectations for LCI Industries (NYSE:LCII) Stock Price

LCI Industries (NYSE:LCII - Free Report) had its price target reduced by Truist Financial from $108.00 to $102.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other analysts have also issued reports on LCII. StockNews.com upgraded shares of LCI Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Raymond James began coverage on LCI Industries in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $111.00.

LCI Industries Stock Performance

Shares of NYSE LCII traded down $2.23 during midday trading on Tuesday, reaching $102.43. 186,892 shares of the stock were exchanged, compared to its average volume of 208,073. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $113.02 and a two-hundred day simple moving average of $113.25. LCI Industries has a twelve month low of $96.18 and a twelve month high of $129.38. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 19.93 and a beta of 1.44.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The company had revenue of $915.50 million during the quarter, compared to analysts' expectations of $922.85 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. The firm's revenue for the quarter was down 4.6% on a year-over-year basis. As a group, analysts anticipate that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.49%. The ex-dividend date was Friday, November 29th. This is a boost from LCI Industries's previous quarterly dividend of $1.05. LCI Industries's dividend payout ratio is currently 89.49%.

Insider Buying and Selling at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. Following the transaction, the chief executive officer now directly owns 373,145 shares in the company, valued at approximately $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On LCI Industries

Hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its stake in LCI Industries by 4.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,244 shares of the company's stock worth $232,000 after buying an additional 90 shares during the period. Hsbc Holdings PLC increased its position in shares of LCI Industries by 2.6% during the second quarter. Hsbc Holdings PLC now owns 4,079 shares of the company's stock worth $417,000 after acquiring an additional 105 shares during the period. Arizona State Retirement System raised its stake in shares of LCI Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 7,090 shares of the company's stock valued at $733,000 after acquiring an additional 130 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in LCI Industries by 2.9% in the third quarter. SkyView Investment Advisors LLC now owns 5,069 shares of the company's stock valued at $611,000 after purchasing an additional 143 shares during the period. Finally, nVerses Capital LLC grew its stake in LCI Industries by 14.3% during the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the company's stock worth $193,000 after purchasing an additional 200 shares in the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

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.