Truist Financial Issues Positive Forecast for LCI Industries (NYSE:LCII) Stock Price

LCI Industries (NYSE:LCII) had its price target lifted by Truist Financial from $80.00 to $88.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Robert W. Baird lowered their target price 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. CJS Securities upgraded shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Wednesday, February 12th. Finally, Baird R W downgraded shares of LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $114.50.

LCI Industries Price Performance

LCI Industries stock opened at $88.28 on Tuesday. The company has a current ratio of 2.82, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $83.26 and a 200-day simple moving average of $97.52. The stock has a market cap of $2.23 billion, a P/E ratio of 15.76 and a beta of 1.27. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38.

LCI Industries (NYSE:LCII) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.64. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $972.04 million. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. LCI Industries’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 EPS. Equities analysts expect 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 will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $1.15 dividend. The ex-dividend date is Friday, May 30th. This represents a $4.60 annualized dividend and a yield of 5.21%. LCI Industries’s dividend payout ratio (DPR) is 75.41%.

LCI Industries declared that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On LCI Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new position in shares of LCI Industries during the fourth quarter worth about $28,000. SVB Wealth LLC acquired a new stake in LCI Industries during the 1st quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its stake in shares of 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 purchasing an additional 247 shares during the last quarter. LRI Investments LLC increased its holdings in shares of LCI Industries by 345.6% in the fourth quarter. LRI Investments LLC now owns 401 shares of the company’s stock valued at $41,000 after purchasing an additional 311 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of LCI Industries by 535.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company’s stock valued at $46,000 after purchasing an additional 439 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

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.