LCI Industries (NYSE:LCII) Shares Up 8.2% – Here’s Why

LCI Industries (NYSE:LCII)’s stock price shot up 8.2% during trading on Wednesday . The stock traded as high as $149.93 and last traded at $149.3280. 356,290 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 266,782 shares. The stock had previously closed at $138.07.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LCII. Roth Mkm lifted their price target on LCI Industries from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Loop Capital reissued a “hold” rating and set a $149.00 target price on shares of LCI Industries in a research report on Thursday. Wall Street Zen cut LCI Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. BMO Capital Markets raised LCI Industries from an “underperform” rating to a “market perform” rating and set a $110.00 price target for the company in a report on Monday, November 3rd. Finally, Truist Financial set a $147.00 price target on shares of LCI Industries in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.50.

LCI Industries Stock Down 1.9%

The stock has a market cap of $3.56 billion, a PE ratio of 20.57 and a beta of 1.31. The business has a 50 day moving average of $123.09 and a 200-day moving average of $107.15. The company has a current ratio of 2.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.53. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $963.96 million. LCI Industries had a return on equity of 12.60% and a net margin of 4.49%.The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. Equities research analysts predict that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, November 28th. This represents a $4.60 dividend on an annualized basis and a yield of 3.1%. LCI Industries’s dividend payout ratio is currently 64.34%.

Institutional Investors Weigh In On LCI Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in LCI Industries in the 2nd quarter valued at approximately $26,000. Signaturefd LLC lifted its holdings in shares of LCI Industries by 591.5% in the 2nd quarter. Signaturefd LLC now owns 325 shares of the company’s stock valued at $30,000 after buying an additional 278 shares during the period. Financial Consulate Inc. acquired a new stake in shares of LCI Industries in the 3rd quarter valued at approximately $56,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of LCI Industries by 358.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 624 shares of the company’s stock valued at $58,000 after buying an additional 488 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in LCI Industries during the second quarter worth $66,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Company Profile

LCI Industries is a publicly traded manufacturer specializing in engineered components and systems for the recreation vehicle (RV), marine and housing industries. The company develops and supplies a diverse range of products designed to enhance comfort, convenience and functionality in mobile and leisure applications. LCI Industries serves original equipment manufacturers (OEMs) and aftermarket customers throughout North America.

The company’s core offerings include power conversion and control systems, slideout mechanisms, entry and docking products, seating and furniture solutions, as well as window and door assemblies.