Stock Repurchase Plan Declared by LCI Industries (NYSE:LCII) Board

LCI Industries (NYSE:LCII) declared that its board has approved a share repurchase program on Thursday, May 15th, RTT News reports. The company plans to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

LCI Industries Stock Up 2.8%

LCII opened at $91.45 on Friday. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The stock has a market cap of $2.31 billion, a P/E ratio of 16.33 and a beta of 1.26. The stock’s 50 day moving average price is $83.46 and its 200 day moving average price is $100.05.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.64. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $972.04 million. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. As a group, research analysts predict that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Friday, May 30th. LCI Industries’s payout ratio is currently 75.41%.

Wall Street Analyst Weigh In

A number of research analysts have commented on LCII shares. Robert W. Baird reduced their target price on LCI Industries from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Baird R W downgraded LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. StockNews.com raised LCI Industries from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Truist Financial reduced their target price on LCI Industries from $108.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Finally, CJS Securities raised LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, LCI Industries has a consensus rating of “Hold” and an average target price of $112.50.

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.