LCI Industries (NYSE:LCII) Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of LCI Industries (NYSE:LCII - Free Report) from a buy rating to a hold rating in a research note released on Tuesday.

LCII has been the subject of several other reports. Raymond James assumed coverage on LCI Industries in a research note on Tuesday, October 1st. They set a market perform rating for the company. Truist Financial increased their price objective on shares of LCI Industries from $100.00 to $108.00 and gave the company a hold rating in a research note on Friday, September 20th. Finally, Benchmark reissued a buy rating and issued a $130.00 target price on shares of LCI Industries in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $112.20.

LCI Industries Stock Up 0.3 %

NYSE:LCII traded up $0.38 during trading hours on Tuesday, hitting $117.28. The stock had a trading volume of 128,998 shares, compared to its average volume of 229,777. The business has a 50 day simple moving average of $115.77 and a two-hundred day simple moving average of $111.05. The company has a market cap of $2.98 billion, a PE ratio of 31.77 and a beta of 1.41. LCI Industries has a 1-year low of $96.18 and a 1-year high of $131.36. The company has a current ratio of 2.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59.

LCI Industries (NYSE:LCII - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.24. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The company's revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Analysts predict that LCI Industries will post 6.01 EPS for the current year.

LCI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $1.05 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.58%. LCI Industries's payout ratio is currently 114.13%.

Hedge Funds Weigh In On LCI Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd acquired a new position in shares of LCI Industries during the first quarter valued at $732,000. Comerica Bank raised its position in shares of LCI Industries by 24.1% during the 1st quarter. Comerica Bank now owns 31,784 shares of the company's stock worth $3,911,000 after buying an additional 6,174 shares in the last quarter. Quadrature Capital Ltd lifted its stake in shares of LCI Industries by 76.7% in the 1st quarter. Quadrature Capital Ltd now owns 12,672 shares of the company's stock worth $1,558,000 after acquiring an additional 5,500 shares during the period. Vanguard Group Inc. boosted its holdings in shares of LCI Industries by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,800,882 shares of the company's stock valued at $344,677,000 after acquiring an additional 15,670 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of LCI Industries during the second quarter valued at approximately $438,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

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.