LCI Industries (NYSE:LCII) Shares Gap Up Following Better-Than-Expected Earnings

LCI Industries (NYSE:LCII) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $104.99, but opened at $111.16. LCI Industries shares last traded at $112.86, with a volume of 66,634 shares trading hands.

The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.90. LCI Industries had a return on equity of 4.70% and a net margin of 1.70%. The company had revenue of $968.00 million during the quarter, compared to analyst estimates of $963.02 million. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year.

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Thursday, March 7th. LCI Industries’s payout ratio is 166.01%.

Analyst Ratings Changes

LCII has been the subject of a number of recent analyst reports. Roth Mkm dropped their price target on shares of LCI Industries from $113.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. BMO Capital Markets lowered LCI Industries from a “market perform” rating to an “underperform” rating and cut their target price for the company from $105.00 to $100.00 in a research report on Monday, January 22nd. Truist Financial restated a “hold” rating and set a $110.00 price target (down from $140.00) on shares of LCI Industries in a research note on Friday, January 19th. Finally, Robert W. Baird dropped their price objective on LCI Industries from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.20.

Hedge Funds Weigh In On LCI Industries

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in LCI Industries by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,785,212 shares of the company’s stock worth $350,129,000 after purchasing an additional 12,018 shares in the last quarter. FMR LLC grew its position in shares of LCI Industries by 35.1% during the third quarter. FMR LLC now owns 1,231,852 shares of the company’s stock worth $144,644,000 after buying an additional 320,243 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of LCI Industries by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,049,513 shares of the company’s stock worth $131,940,000 after buying an additional 4,161 shares during the period. Pacer Advisors Inc. raised its holdings in LCI Industries by 70.9% in the fourth quarter. Pacer Advisors Inc. now owns 824,702 shares of the company’s stock valued at $103,673,000 after acquiring an additional 342,165 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in LCI Industries by 1.8% in the first quarter. Principal Financial Group Inc. now owns 609,232 shares of the company’s stock worth $74,972,000 after acquiring an additional 10,539 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

LCI Industries Stock Up 2.4 %

The firm’s fifty day simple moving average is $112.77 and its 200 day simple moving average is $115.47. The company has a current ratio of 2.83, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 44.99 and a beta of 1.41.

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.