BMO Capital Markets Increases LCI Industries (NYSE:LCII) Price Target 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 - Free Report) had its price objective upped by BMO Capital Markets from $80.00 to $85.00 in a research report released on Wednesday,Benzinga reports. They currently have an underperform rating on the stock.

Several other analysts have also commented on LCII. Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Truist Financial boosted their price objective on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Finally, Robert W. Baird dropped their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, LCI Industries has a consensus rating of "Hold" and a consensus price target of $103.25.

LCI Industries Stock Performance

Shares of LCII stock traded down $0.66 during trading hours on Wednesday, reaching $95.12. 254,755 shares of the company's stock were exchanged, compared to its average volume of 325,345. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The business has a fifty day moving average price of $94.29 and a 200-day moving average price of $92.46. The stock has a market capitalization of $2.31 billion, a P/E ratio of 15.88 and a beta of 1.25. The company has a quick ratio of 1.41, a current ratio of 2.80 and a debt-to-equity ratio of 0.68.

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

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

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $1.15 dividend. The ex-dividend date was Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.8%. LCI Industries's dividend payout ratio (DPR) is 76.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LCII. Covestor Ltd boosted its stake 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 buying an additional 120 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in LCI Industries by 5.3% during 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. Smartleaf Asset Management LLC increased its position in LCI Industries by 45.5% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock worth $47,000 after buying an additional 167 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings in LCI Industries by 1.1% during the 2nd quarter. Zions Bancorporation National Association UT now owns 15,309 shares of the company's stock valued at $1,396,000 after purchasing an additional 171 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its stake in LCI Industries by 6.1% in the 1st quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company's stock valued at $318,000 after buying an additional 208 shares during the last quarter. Institutional investors 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.