Aigen Investment Management LP Takes Position in LCI Industries $LCII

Key Points

• Aigen Investment Management LP has made a new investment in LCI Industries, purchasing 3,801 shares valued at approximately $332,000.
• LCI Industries recently reported $2.39 EPS, exceeding analyst expectations, with revenues up 5.1% year-over-year.
• The company has initiated a $300 million share buyback program, signaling management's belief that the stock is undervalued.

Aigen Investment Management LP purchased a new position in LCI Industries (NYSE:LCII - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 3,801 shares of the company's stock, valued at approximately $332,000.

A number of other large investors also recently modified their holdings of the business. Covestor Ltd grew its holdings in shares of LCI Industries by 15.7% during the 1st quarter. Covestor Ltd now owns 885 shares of the company's stock worth $77,000 after purchasing an additional 120 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in LCI Industries by 5.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company's stock worth $268,000 after purchasing an additional 130 shares during the period. Apollon Wealth Management LLC boosted its stake in LCI Industries by 6.1% during the first quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company's stock worth $318,000 after buying an additional 208 shares in the last quarter. LRI Investments LLC increased its holdings in LCI Industries by 345.6% in the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after buying an additional 311 shares during the period. Finally, Wesbanco Bank Inc. increased its holdings in LCI Industries by 12.2% in the 1st quarter. Wesbanco Bank Inc. now owns 3,043 shares of the company's stock valued at $266,000 after buying an additional 330 shares during the period. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LCII has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Robert W. Baird cut their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, BMO Capital Markets upped their price objective on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $103.25.

LCI Industries Price Performance

Shares of LCII traded down $0.51 during trading hours on Monday, hitting $102.92. The stock had a trading volume of 73,819 shares, compared to its average volume of 391,914. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 17.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34. The company's fifty day moving average is $95.72 and its two-hundred day moving average is $92.23. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.17. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 earnings per share. On average, analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries announced that its board has approved a share buyback program on Thursday, May 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 13.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

LCI Industries Profile

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.