LCI Industries’ (LCII) “Buy” Rating Reaffirmed at Northcoast Research
Other equities research analysts have also issued reports about the stock. Robert W. Baird restated a buy rating and issued a $115.00 price objective on shares of LCI Industries in a report on Wednesday, July 25th. Zacks Investment Research lowered shares of LCI Industries from a hold rating to a strong sell rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of LCI Industries from a sell rating to a hold rating in a report on Wednesday, August 8th. Finally, Citigroup reduced their price objective on shares of LCI Industries from $131.00 to $112.00 and set a buy rating on the stock in a report on Tuesday, June 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. LCI Industries currently has an average rating of Buy and an average target price of $113.75.
Shares of LCII stock opened at $93.35 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.70 and a quick ratio of 1.11. LCI Industries has a 52 week low of $80.95 and a 52 week high of $132.73. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 16.47 and a beta of 1.04.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, August 30th. This represents a $2.40 annualized dividend and a yield of 2.57%. LCI Industries’s dividend payout ratio is currently 41.67%.
In related news, CEO Jason Lippert purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The shares were purchased at an average cost of $83.83 per share, for a total transaction of $502,980.00. Following the purchase, the chief executive officer now directly owns 213,022 shares of the company’s stock, valued at $17,857,634.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Scott T. Mereness purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were bought at an average price of $85.00 per share, for a total transaction of $340,000.00. The disclosure for this purchase can be found here. 4.00% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in LCI Industries by 9.8% in the second quarter. BlackRock Inc. now owns 3,437,411 shares of the company’s stock valued at $309,881,000 after purchasing an additional 305,546 shares during the period. Summit Trail Advisors LLC increased its stake in LCI Industries by 7,584.4% in the first quarter. Summit Trail Advisors LLC now owns 1,149,508 shares of the company’s stock valued at $1,150,000 after purchasing an additional 1,134,549 shares during the period. Royal Bank of Canada increased its stake in LCI Industries by 7.5% in the first quarter. Royal Bank of Canada now owns 882,854 shares of the company’s stock valued at $91,949,000 after purchasing an additional 61,583 shares during the period. JPMorgan Chase & Co. increased its stake in LCI Industries by 6.2% in the first quarter. JPMorgan Chase & Co. now owns 838,553 shares of the company’s stock valued at $87,335,000 after purchasing an additional 48,801 shares during the period. Finally, Congress Asset Management Co. MA increased its stake in LCI Industries by 4.3% in the second quarter. Congress Asset Management Co. MA now owns 771,695 shares of the company’s stock valued at $69,568,000 after purchasing an additional 32,129 shares during the period. Hedge funds and other institutional investors own 92.84% of the company’s stock.
About LCI Industries
LCI Industries, along with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.
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