Zacks Investment Research Upgrades LCI Industries (NYSE:LCII) to Buy
Zacks Investment Research upgraded shares of LCI Industries (NYSE:LCII) from a hold rating to a buy rating in a report issued on Friday, Zacks.com reports. They currently have $119.00 target price on the stock.
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. “
Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of LCI Industries from a sell rating to a hold rating in a research report on Friday, November 1st. Sidoti lowered shares of LCI Industries from a buy rating to a neutral rating and decreased their price target for the stock from $110.00 to $108.00 in a research report on Thursday, October 31st. Finally, Citigroup lifted their price target on shares of LCI Industries from $105.00 to $110.00 and gave the stock a buy rating in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $105.75.
LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The firm had revenue of $586.20 million for the quarter, compared to analyst estimates of $578.87 million. LCI Industries had a net margin of 5.88% and a return on equity of 18.73%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. Equities analysts expect that LCI Industries will post 5.82 earnings per share for the current year.
In other LCI Industries news, Director David A. Reed sold 5,714 shares of LCI Industries stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.06, for a total transaction of $543,172.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David A. Reed sold 3,328 shares of LCI Industries stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $95.03, for a total transaction of $316,259.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,542 shares of company stock worth $906,943. Corporate insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LCII. BlackRock Inc. grew its holdings in shares of LCI Industries by 1.1% during the 2nd quarter. BlackRock Inc. now owns 3,640,224 shares of the company’s stock valued at $327,621,000 after acquiring an additional 39,933 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of LCI Industries by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 563,179 shares of the company’s stock valued at $50,686,000 after acquiring an additional 10,546 shares in the last quarter. Northern Trust Corp grew its holdings in shares of LCI Industries by 1.8% during the 2nd quarter. Northern Trust Corp now owns 350,980 shares of the company’s stock valued at $31,589,000 after acquiring an additional 6,137 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of LCI Industries by 0.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 235,960 shares of the company’s stock valued at $21,237,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of LCI Industries by 264.9% during the 2nd quarter. Morgan Stanley now owns 132,258 shares of the company’s stock valued at $11,903,000 after acquiring an additional 96,017 shares in the last quarter. Hedge funds and other institutional investors own 99.78% of the company’s stock.
LCI Industries Company Profile
LCI Industries, together 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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