LCI Industries (NYSE:LCII) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of LCI Industries (NYSE:LCII) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “LCI Industries is a supplier of components to the recreational vehicle and manufactured housing industries as well as adjacent industries including bus, cargo and equestrian trailer, marine and heavy truck. The company’s product portfolio includes awnings, suspension enhancement, chassis, doors and laminates, electronics, interior, software and apps, windows and glass, thermoformed bath and kitchen products. LCI Industries, formerly known as formerly Drew Industries Incorporated, is based in Elkhart, Indiana. “

Several other equities research analysts have also recently commented on LCII. Truist Financial initiated coverage on LCI Industries in a research report on Thursday, July 15th. They set a buy rating and a $170.00 price objective on the stock. Truist started coverage on LCI Industries in a research report on Thursday, July 15th. They issued a buy rating and a $170.00 target price on the stock. Finally, Truist Securities started coverage on LCI Industries in a research report on Thursday, July 15th. They issued a buy rating and a $170.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $161.00.

LCI Industries stock opened at $130.78 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.21 and a quick ratio of 1.08. LCI Industries has a one year low of $101.69 and a one year high of $156.61. The stock has a market capitalization of $3.31 billion, a PE ratio of 12.80 and a beta of 1.63. The business’s fifty day moving average is $140.19 and its 200 day moving average is $139.63.

LCI Industries (NYSE:LCII) last released its quarterly earnings data on Tuesday, August 3rd. The company reported $2.68 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.04). LCI Industries had a net margin of 6.99% and a return on equity of 27.86%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the business earned $0.54 earnings per share. The company’s quarterly revenue was up 108.0% on a year-over-year basis. As a group, sell-side analysts expect that LCI Industries will post 10.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.75%. The ex-dividend date is Thursday, September 2nd. LCI Industries’s dividend payout ratio (DPR) is presently 55.47%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of LCI Industries by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,189,449 shares of the company’s stock worth $550,579,000 after purchasing an additional 40,138 shares during the period. Vanguard Group Inc. raised its position in LCI Industries by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,668,788 shares of the company’s stock valued at $350,732,000 after purchasing an additional 17,834 shares in the last quarter. Neuberger Berman Group LLC raised its position in LCI Industries by 0.4% during the 1st quarter. Neuberger Berman Group LLC now owns 1,455,782 shares of the company’s stock valued at $191,663,000 after purchasing an additional 5,844 shares in the last quarter. JPMorgan Chase & Co. raised its position in LCI Industries by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,410,298 shares of the company’s stock valued at $185,341,000 after purchasing an additional 129,208 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in LCI Industries by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 770,643 shares of the company’s stock valued at $101,278,000 after purchasing an additional 10,827 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

About LCI Industries

LCI Industries engages in the manufacture, supply, and distribution of components for the original equipment manufacturers (OEM) of recreational vehicles and manufactured homes. It operates through the OEM and Aftermarket segments. The OEM segment offers components for buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing.

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