LCI Industries (NYSE:LCII) Price Target Raised to $85.00

Key Points

• BMO Capital Markets raised its price target for LCI Industries from $80.00 to $85.00, indicating a potential downside of 11.57% from the current stock price, while maintaining an "underperform" rating.
• LCI Industries reported its quarterly earnings of $2.39 per share, exceeding expectations and showing a 5.1% increase in revenue compared to the same quarter last year.
• Institutional investors and hedge funds own 99.71% of LCI Industries' stock, with significant increases in holdings from firms such as Teacher Retirement System of Texas and Nuveen Asset Management LLC.

LCI Industries (NYSE:LCII - Get Free Report) had its price target upped by analysts at BMO Capital Markets from $80.00 to $85.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. BMO Capital Markets' price objective points to a potential downside of 11.57% from the stock's current price.

Other analysts also recently issued research reports about the company. Robert W. Baird lowered their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Truist Financial lifted their target price on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen downgraded LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $108.60.

LCI Industries Stock Performance

Shares of LCI Industries stock opened at $96.12 on Wednesday. The company has a market capitalization of $2.43 billion, a PE ratio of 15.76 and a beta of 1.25. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The company has a current ratio of 2.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $93.85 and its 200 day simple moving average is $92.70.

LCI Industries (NYSE:LCII - Get Free Report) last posted 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 company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. LCI Industries's revenue for the quarter 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, research analysts predict that LCI Industries will post 6.76 EPS for the current year.

LCI Industries declared that its board has approved a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On LCI Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas grew its position in shares of LCI Industries by 136.5% in the first quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company's stock valued at $831,000 after purchasing an additional 5,484 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of LCI Industries by 12.7% in the fourth quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company's stock valued at $10,000,000 after buying an additional 10,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of LCI Industries by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,145 shares of the company's stock valued at $7,149,000 after buying an additional 10,498 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of LCI Industries by 16.0% in the first quarter. Allianz Asset Management GmbH now owns 20,347 shares of the company's stock valued at $1,779,000 after buying an additional 2,800 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of LCI Industries by 5.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company's stock valued at $30,193,000 after buying an additional 15,408 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

LCI Industries Company 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.

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