LCI Industries (NYSE:LCII) Rating Increased to Buy at Wall Street Zen

LCI Industries (NYSE:LCII - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the stock. Robert W. Baird dropped 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 report on Wednesday, May 7th. Baird R W cut shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Truist Financial upped their price objective on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, LCI Industries has a consensus rating of "Hold" and an average price target of $114.50.

LCI Industries Price Performance

Shares of NYSE:LCII opened at $91.93 on Friday. The company has a market cap of $2.32 billion, a P/E ratio of 15.07 and a beta of 1.27. The business has a fifty day simple moving average of $86.63 and a 200-day simple moving average of $94.23. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The company has a quick ratio of 1.41, a current ratio of 2.96 and a debt-to-equity ratio of 0.68.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.55 by $0.64. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $972.04 million. During the same quarter in the previous year, the business earned $1.44 EPS. The firm's revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that LCI Industries will post 6.76 EPS for the current year.

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

Institutional Investors Weigh In On LCI Industries

Several large investors have recently made changes to their positions in LCII. Vanguard Group Inc. boosted its position in LCI Industries by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock worth $301,203,000 after purchasing an additional 56,794 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of LCI Industries by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company's stock worth $115,961,000 after purchasing an additional 89,230 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of LCI Industries by 9.3% in the first quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock worth $60,808,000 after buying an additional 59,233 shares during the period. Millennium Management LLC boosted its position in shares of LCI Industries by 482.2% in the first quarter. Millennium Management LLC now owns 635,540 shares of the company's stock worth $55,565,000 after buying an additional 526,378 shares during the period. Finally, Royce & Associates LP grew its stake in shares of LCI Industries by 6.4% in the first quarter. Royce & Associates LP now owns 581,590 shares of the company's stock valued at $50,848,000 after buying an additional 34,967 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

About LCI Industries

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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