Truist Financial Cuts LCI Industries (NYSE:LCII) Price Target to $102.00

LCI Industries (NYSE:LCII) had its price objective decreased by Truist Financial from $108.00 to $102.00 in a research report released on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other equities research analysts also recently commented on LCII. Raymond James started coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. StockNews.com upgraded shares of LCI Industries from a “hold” rating to a “buy” rating in a research note on Saturday, January 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.00.

LCI Industries Stock Down 0.1 %

LCII opened at $102.25 on Tuesday. The company’s 50-day moving average price is $112.75 and its two-hundred day moving average price is $113.17. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. LCI Industries has a twelve month low of $96.18 and a twelve month high of $129.38. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 19.89 and a beta of 1.44.

LCI Industries (NYSE:LCII) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The business had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. LCI Industries’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 earnings per share. As a group, equities analysts expect that LCI Industries will post 5.51 earnings per share for the current year.

LCI Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.50%. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, November 29th. LCI Industries’s dividend payout ratio (DPR) is presently 89.49%.

Insider Activity

In related news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the transaction, the chief executive officer now directly owns 373,145 shares in the company, valued at approximately $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On LCI Industries

A number of institutional investors have recently made changes to their positions in LCII. American Century Companies Inc. grew its position in LCI Industries by 30.5% in the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after acquiring an additional 97,877 shares in the last quarter. Royce & Associates LP lifted its stake in LCI Industries by 22.5% during the third quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock worth $45,086,000 after purchasing an additional 68,682 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in LCI Industries by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after purchasing an additional 62,354 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of 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 purchasing an additional 36,487 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its holdings in shares of LCI Industries by 26.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock valued at $19,649,000 after buying an additional 34,110 shares in the last quarter. Institutional investors 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.