Zacks Investment Research Lowers LCI Industries (NYSE:LCII) to Hold

LCI Industries (NYSE:LCII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “LCI Industries is a supplier of components to the recreational vehicle and manufactured housing industries as well as adjacent industries including bus, cargo and equestrian trailer, marine and heavy truck. The company’s product portfolio includes awnings, suspension enhancement, chassis, doors and laminates, electronics, interior, software and apps, windows and glass, thermoformed bath and kitchen products. LCI Industries, formerly known as formerly Drew Industries Incorporated, is based in Elkhart, Indiana. “

A number of other brokerages have also weighed in on LCII. Truist Financial began coverage on LCI Industries in a report on Thursday, July 15th. They set a “buy” rating and a $170.00 price objective on the stock. Truist began coverage on LCI Industries in a report on Thursday, July 15th. They set a “buy” rating and a $170.00 price objective on the stock. Finally, Truist Securities began coverage on LCI Industries in a report on Thursday, July 15th. They set a “buy” rating and a $170.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $161.00.

Shares of NYSE:LCII traded down $1.63 during trading on Tuesday, reaching $130.78. The company had a trading volume of 149,905 shares, compared to its average volume of 163,775. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 12.80 and a beta of 1.63. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.21 and a quick ratio of 1.08. The stock’s fifty day moving average price is $140.19 and its 200 day moving average price is $139.63. LCI Industries has a fifty-two week low of $101.69 and a fifty-two week high of $156.61.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, August 3rd. The company reported $2.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.72 by ($0.04). LCI Industries had a net margin of 6.99% and a return on equity of 27.86%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 108.0% on a year-over-year basis. On average, equities analysts anticipate that LCI Industries will post 10.58 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of LCII. Parametric Portfolio Associates LLC lifted its position in shares of LCI Industries by 6.0% in the second quarter. Parametric Portfolio Associates LLC now owns 81,974 shares of the company’s stock valued at $10,773,000 after acquiring an additional 4,634 shares in the last quarter. Comerica Bank lifted its position in shares of LCI Industries by 6.8% in the second quarter. Comerica Bank now owns 27,206 shares of the company’s stock valued at $3,769,000 after acquiring an additional 1,726 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of LCI Industries by 344.7% in the second quarter. 1832 Asset Management L.P. now owns 209 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Wells Fargo & Company MN lifted its position in LCI Industries by 422.3% during the second quarter. Wells Fargo & Company MN now owns 257,517 shares of the company’s stock worth $33,844,000 after buying an additional 208,212 shares during the period. Finally, Zacks Investment Management lifted its position in LCI Industries by 2.6% during the second quarter. Zacks Investment Management now owns 10,629 shares of the company’s stock worth $1,397,000 after buying an additional 270 shares during the period. 98.02% of the stock is currently owned by institutional investors.

About LCI Industries

LCI Industries engages in the manufacture, supply, and distribution of components for the original equipment manufacturers (OEM) of recreational vehicles and manufactured homes. It operates through the OEM and Aftermarket segments. The OEM segment offers components for buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing.

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