LCI Industries (LCII) Rating Lowered to Buy at BidaskClub
LCI Industries (NASDAQ:LCII) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.
A number of other analysts have also commented on LCII. Zacks Investment Research lowered LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Robert W. Baird reissued a “buy” rating and set a $115.00 price objective on shares of LCI Industries in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $114.67.
Shares of LCI Industries (LCII) opened at $118.30 on Friday. LCI Industries has a twelve month low of $85.00 and a twelve month high of $129.20.
LCI Industries (NASDAQ:LCII) last issued its quarterly earnings data on Friday, August 4th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. The firm had revenue of $547.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year.
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In other news, CEO Jason Lippert sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $114.80, for a total value of $1,722,000.00. Following the transaction, the chief executive officer now owns 164,744 shares in the company, valued at approximately $18,912,611.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Scott T. Mereness bought 3,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $94.50 per share, for a total transaction of $283,500.00. Following the purchase, the president now directly owns 204,824 shares in the company, valued at $19,355,868. The disclosure for this purchase can be found here. Insiders sold a total of 25,210 shares of company stock worth $2,886,934 in the last 90 days.
Several hedge funds and other institutional investors have recently made changes to their positions in LCII. Bruderman Asset Management LLC purchased a new position in shares of LCI Industries in the 2nd quarter worth approximately $122,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of LCI Industries in the 2nd quarter worth approximately $124,000. Riverhead Capital Management LLC boosted its stake in shares of LCI Industries by 74.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock worth $143,000 after buying an additional 599 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new position in shares of LCI Industries in the 2nd quarter worth approximately $144,000. Finally, LSV Asset Management purchased a new position in shares of LCI Industries in the 2nd quarter worth approximately $194,000.
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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