LCI Industries (NYSE:LCII) Upgraded to "Buy" at StockNews.com

StockNews.com upgraded shares of LCI Industries (NYSE:LCII - Free Report) from a hold rating to a buy rating in a report released on Saturday.

LCII has been the subject of several other reports. Raymond James initiated coverage on LCI Industries in a report on Tuesday, October 1st. They issued a "market perform" rating for the company. Truist Financial boosted their price target on LCI Industries from $100.00 to $108.00 and gave the company a "hold" rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $112.20.

LCI Industries Stock Up 2.6 %

Shares of LCII traded up $2.62 during trading on Friday, reaching $104.24. The company's stock had a trading volume of 279,297 shares, compared to its average volume of 207,199. LCI Industries has a twelve month low of $96.18 and a twelve month high of $129.38. 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 company has a market cap of $2.65 billion, a price-to-earnings ratio of 20.28 and a beta of 1.41. The company has a fifty day moving average of $113.53 and a two-hundred day moving average of $113.03.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The firm's revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS. On average, sell-side analysts predict that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $1.15 dividend. This is an increase from LCI Industries's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, November 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.41%. LCI Industries's dividend payout ratio (DPR) is 89.49%.

Insider Buying and Selling

In related news, CEO Jason Lippert sold 10,000 shares of the firm'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 sale, the chief executive officer now directly owns 373,145 shares in the company, valued at $47,016,270. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On LCI Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in shares of LCI Industries by 9.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,574 shares of the company's stock valued at $370,000 after purchasing an additional 322 shares during the period. Arizona State Retirement System boosted its holdings in LCI Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 7,090 shares of the company's stock worth $733,000 after buying an additional 130 shares in the last quarter. Quest Partners LLC grew its position in LCI Industries by 233.4% in the second quarter. Quest Partners LLC now owns 4,154 shares of the company's stock worth $429,000 after buying an additional 2,908 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of LCI Industries by 4.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 23,187 shares of the company's stock worth $2,397,000 after acquiring an additional 1,023 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of LCI Industries by 30.5% in the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company's stock worth $43,274,000 after acquiring an additional 97,877 shares during the last quarter. 99.71% of the stock is currently owned by 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.