LCI Industries (NYSE:LCII) Sets New 52-Week Low - Here's What Happened

LCI Industries (NYSE:LCII - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $75.41 and last traded at $76.95, with a volume of 495254 shares changing hands. The stock had previously closed at $78.95.

Wall Street Analysts Forecast Growth

LCII has been the topic of several analyst reports. CJS Securities raised LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price objective on the stock in a research note on Wednesday, February 12th. Truist Financial cut their target price on LCI Industries from $108.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Baird R W downgraded LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Robert W. Baird reiterated a "neutral" rating and set a $100.00 price objective (down previously from $130.00) on shares of LCI Industries in a research report on Friday, April 4th. Finally, StockNews.com lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, LCI Industries has an average rating of "Hold" and an average price target of $111.60.

LCI Industries Trading Up 2.2 %

The stock has a market capitalization of $2.01 billion, a P/E ratio of 14.25 and a beta of 1.36. The stock's fifty day moving average price is $86.02 and its 200 day moving average price is $102.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03.

LCI Industries (NYSE:LCII - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. Research analysts forecast that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend was Friday, March 7th. LCI Industries's dividend payout ratio (DPR) is presently 82.14%.

Institutional Trading of LCI Industries

Hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in shares of LCI Industries during the third quarter valued at approximately $49,000. Tidal Investments LLC boosted its holdings in shares of LCI Industries by 2.4% in the 3rd quarter. Tidal Investments LLC now owns 9,402 shares of the company's stock valued at $1,133,000 after buying an additional 223 shares in the last quarter. Franklin Resources Inc. grew its holdings in LCI Industries by 11.0% in the third quarter. Franklin Resources Inc. now owns 317,439 shares of the company's stock worth $37,607,000 after purchasing an additional 31,376 shares during the last quarter. Principal Financial Group Inc. increased its position in LCI Industries by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company's stock valued at $76,202,000 after buying an additional 36,487 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of LCI Industries during the fourth quarter valued at about $2,394,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

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.