LCI Industries (NYSE:LCII) Rating Increased to Buy at StockNews.com

LCI Industries (NYSE:LCII) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Truist Financial reduced their price target on LCI Industries from $108.00 to $102.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.75.

LCI Industries Stock Down 0.5 %

NYSE LCII traded down $0.48 on Friday, reaching $100.81. 244,623 shares of the stock traded hands, compared to its average volume of 230,297. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 19.61 and a beta of 1.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. LCI Industries has a 12 month low of $96.18 and a 12 month high of $129.38. The company has a fifty day moving average price of $107.49 and a 200-day moving average price of $113.10.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The firm had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 EPS. As a group, research analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

Insider Activity at LCI Industries

In other news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction 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 approximately $47,016,270. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LCI Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of LCI Industries by 29.2% during the 4th quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company’s stock worth $36,975,000 after acquiring an additional 80,784 shares in the last quarter. Royce & Associates LP boosted its stake in shares of LCI Industries by 22.5% during the 3rd quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock worth $45,086,000 after acquiring an additional 68,682 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of LCI Industries by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock worth $76,202,000 after acquiring an additional 36,487 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of LCI Industries by 26.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock worth $19,649,000 after acquiring an additional 34,110 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of LCI Industries by 11.0% during the 3rd quarter. Franklin Resources Inc. now owns 317,439 shares of the company’s stock worth $37,607,000 after acquiring an additional 31,376 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

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.