LCI Industries (NYSE:LCII) Cut to "Hold" at Wall Street Zen

Wall Street Zen downgraded shares of LCI Industries (NYSE:LCII - Free Report) from a buy rating to a hold rating in a research report report published on Sunday.

Several other research firms also recently issued reports on LCII. Truist Financial boosted their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Robert W. Baird reduced their price target on 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, Baird R W downgraded LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $114.50.

LCI Industries Stock Performance

Shares of LCII stock traded up $1.42 during trading on Friday, reaching $100.03. 388,743 shares of the company's stock were exchanged, compared to its average volume of 319,680. The company has a quick ratio of 1.41, a current ratio of 2.96 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.52 billion, a PE ratio of 16.40 and a beta of 1.26. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38. The firm's fifty day moving average price is $89.62 and its 200-day moving average price is $93.46.

LCI Industries (NYSE:LCII - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.64. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. As a group, sell-side analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.60 annualized dividend and a yield of 4.60%. LCI Industries's dividend payout ratio (DPR) is presently 75.41%.

LCI Industries declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On LCI Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCII. SVB Wealth LLC acquired a new position in LCI Industries in the 1st quarter valued at $28,000. Smartleaf Asset Management LLC raised its holdings in LCI Industries by 205.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after acquiring an additional 247 shares in the last quarter. LRI Investments LLC raised 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 acquiring an additional 311 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in LCI Industries by 535.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock valued at $46,000 after acquiring an additional 439 shares in the last quarter. Finally, State of Wyoming acquired a new position in LCI Industries in the 1st quarter valued at $46,000. 99.71% of the stock is owned by institutional investors and hedge funds.

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.