Zacks Investment Research cut shares of LCI Industries (NYSE:LCII) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday.
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 equities research analysts have also recently issued research reports about the stock. Robert W. Baird reissued a buy rating and issued a $135.00 target price on shares of LCI Industries in a research report on Friday, December 22nd. Northcoast Research began coverage on shares of LCI Industries in a research report on Friday, January 26th. They issued a sell rating and a $94.00 target price for the company.
LCI Industries (NYSE:LCII) last announced its earnings results on Thursday, February 8th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.09. The company had revenue of $547.14 million during the quarter, compared to analysts’ expectations of $511.36 million. LCI Industries had a net margin of 6.19% and a return on equity of 23.34%. LCI Industries’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. analysts anticipate that LCI Industries will post 8.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Friday, March 16th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, March 15th. LCI Industries’s dividend payout ratio (DPR) is presently 38.19%.
In related news, insider Nick C. Fletcher sold 2,234 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $110.00, for a total value of $245,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Gero purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The stock was bought at an average cost of $102.09 per share, with a total value of $1,020,900.00. Following the purchase, the director now owns 252,049 shares of the company’s stock, valued at $25,731,682.41. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 8,845 shares of company stock valued at $982,012. 3.60% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC raised its stake in LCI Industries by 478.7% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,088 shares of the company’s stock worth $114,000 after acquiring an additional 900 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in LCI Industries during the fourth quarter worth about $170,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in LCI Industries by 104.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,429 shares of the company’s stock worth $186,000 after acquiring an additional 730 shares in the last quarter. Zions Bancorporation acquired a new position in LCI Industries during the third quarter worth about $187,000. Finally, WP Advisors LLC acquired a new position in LCI Industries during the fourth quarter worth about $210,000. 97.18% of the stock is owned by institutional investors and hedge funds.
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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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