LCI Industries (NYSE:LCII) Trading Up 8.2% – Time to Buy?

LCI Industries (NYSE:LCII) shares were up 8.2% during mid-day trading on Wednesday . The company traded as high as $149.93 and last traded at $149.3280. Approximately 356,290 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 266,782 shares. The stock had previously closed at $138.07.

Analysts Set New Price Targets

A number of brokerages have issued reports on LCII. Wall Street Zen cut LCI Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LCI Industries in a research note on Wednesday, October 8th. Zacks Research downgraded LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. BMO Capital Markets raised LCI Industries from an “underperform” rating to a “market perform” rating and set a $110.00 price target for the company in a report on Monday, November 3rd. Finally, Truist Financial set a $147.00 price objective on LCI Industries in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.00.

LCI Industries Stock Performance

The company’s 50-day moving average price is $120.62 and its two-hundred day moving average price is $106.18. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 21.20 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.78 and a quick ratio of 1.28.

LCI Industries (NYSE:LCII) last announced its earnings results on Thursday, October 30th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.44 by $0.53. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $963.96 million. LCI Industries had a return on equity of 12.60% and a net margin of 4.49%.The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 EPS. On average, equities research analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, November 28th. LCI Industries’s dividend payout ratio (DPR) is 64.34%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. ARGA Investment Management LP raised its position in LCI Industries by 1,386.8% in the 2nd quarter. ARGA Investment Management LP now owns 424,374 shares of the company’s stock valued at $38,699,000 after buying an additional 395,831 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in LCI Industries during the fourth quarter worth about $27,142,000. Bank of Montreal Can grew its position in LCI Industries by 70.4% in the 2nd quarter. Bank of Montreal Can now owns 435,844 shares of the company’s stock worth $39,745,000 after purchasing an additional 180,060 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in LCI Industries in the 2nd quarter valued at about $15,633,000. Finally, Frontier Capital Management Co. LLC lifted its position in shares of LCI Industries by 47.0% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 504,761 shares of the company’s stock worth $46,029,000 after buying an additional 161,472 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

About LCI Industries

LCI Industries is a publicly traded manufacturer specializing in engineered components and systems for the recreation vehicle (RV), marine and housing industries. The company develops and supplies a diverse range of products designed to enhance comfort, convenience and functionality in mobile and leisure applications. LCI Industries serves original equipment manufacturers (OEMs) and aftermarket customers throughout North America.

The company’s core offerings include power conversion and control systems, slideout mechanisms, entry and docking products, seating and furniture solutions, as well as window and door assemblies.