LCI Industries (LCII) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of LCI Industries (NASDAQ:LCII) from a hold rating to a buy rating in a research report report published on Saturday.

Several other analysts have also commented on the company. Zacks Investment Research raised LCI Industries from a hold rating to a buy rating and set a $115.00 price target on the stock in a research note on Wednesday, July 5th. Robert W. Baird reaffirmed a buy rating and issued a $115.00 price target on shares of LCI Industries in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $112.33.

LCI Industries (LCII) traded down 0.98% during midday trading on Friday, reaching $105.90. The company’s stock had a trading volume of 200,321 shares. The firm has a 50 day moving average price of $99.66 and a 200 day moving average price of $99.00. LCI Industries has a 1-year low of $80.65 and a 1-year high of $117.15. The firm has a market capitalization of $2.64 billion and a PE ratio of 19.12.

LCI Industries (NASDAQ:LCII) last released its quarterly earnings data on Friday, August 4th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. The business had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $507.56 million. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts predict that LCI Industries will post $5.79 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, August 16th.

In related news, President Scott T. Mereness purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $94.50 per share, with a total value of $283,500.00. Following the purchase, the president now directly owns 204,824 shares in the company, valued at $19,355,868. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Reed sold 2,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $101.29, for a total value of $202,580.00. The disclosure for this sale can be found here.

A number of institutional investors have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc acquired a new position in LCI Industries in the second quarter worth $124,000. Public Employees Retirement System of Ohio boosted its stake in LCI Industries by 430.4% in the second quarter. Public Employees Retirement System of Ohio now owns 24,236 shares of the company’s stock worth $2,482,000 after purchasing an additional 19,667 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in LCI Industries in the second quarter worth $551,000. Westwood Holdings Group Inc. boosted its stake in LCI Industries by 4.3% in the second quarter. Westwood Holdings Group Inc. now owns 9,700 shares of the company’s stock worth $993,000 after purchasing an additional 400 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in LCI Industries by 3.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,128 shares of the company’s stock worth $218,000 after purchasing an additional 78 shares in the last quarter.

LCI Industries Company Profile

LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.

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