LCI Industries (NYSE:LCII) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of LCI Industries (NYSE:LCII - Free Report) from a hold rating to a buy rating in a research note released on Monday morning.

LCII has been the subject of a number of other research reports. Baird R W cut shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Truist Financial lifted their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Finally, Robert W. Baird dropped their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $114.50.

LCI Industries Trading Up 1.7%

Shares of LCII traded up $1.68 during trading on Monday, reaching $98.10. 289,769 shares of the company traded hands, compared to its average volume of 320,045. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38. The stock has a market cap of $2.48 billion, a PE ratio of 16.08 and a beta of 1.26. The stock has a 50-day simple moving average of $91.68 and a 200-day simple moving average of $93.28. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.64. LCI Industries had a net margin of 4.08% and a return on equity of 11.63%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $972.04 million. During the same period last year, the business earned $1.44 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries declared that its board has approved a stock repurchase program on Thursday, May 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries's dividend payout ratio (DPR) is presently 75.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LCII. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 56,794 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LCI Industries by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company's stock worth $115,961,000 after buying an additional 89,230 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of LCI Industries by 9.3% during the 1st 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 last quarter. Millennium Management LLC lifted its position in shares of LCI Industries by 482.2% during the 1st 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 last quarter. Finally, Royce & Associates LP lifted its position in shares of LCI Industries by 6.4% during the 1st quarter. Royce & Associates LP now owns 581,590 shares of the company's stock worth $50,848,000 after buying an additional 34,967 shares during 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.