Robert W. Baird Reaffirms “Buy” Rating for LCI Industries (LCII)
Separately, Zacks Investment Research lowered shares of LCI Industries from a buy rating to a hold rating in a research report on Tuesday, August 15th.
LCI Industries (NASDAQ LCII) opened at 94.30 on Friday. The company has a market capitalization of $2.35 billion and a price-to-earnings ratio of 17.03. The company’s 50-day moving average price is $100.10 and its 200-day moving average price is $99.82. LCI Industries has a 52 week low of $80.65 and a 52 week high of $117.15.
LCI Industries (NASDAQ:LCII) last announced its earnings results on Friday, August 4th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The firm had revenue of $547 million for the quarter, compared to analyst estimates of $507.56 million. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities analysts forecast that LCI Industries will post $5.79 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.12%.
In other LCI Industries news, Director David A. Reed sold 2,000 shares of LCI Industries stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $101.29, for a total value of $202,580.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Scott T. Mereness purchased 3,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $94.50 per share, for a total transaction of $283,500.00. Following the acquisition, the president now owns 204,824 shares in the company, valued at $19,355,868. The disclosure for this purchase can be found here.
Several institutional investors have recently made changes to their positions in the stock. Congress Asset Management Co. MA raised its position in shares of LCI Industries by 11.4% in the second quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock worth $1,531,000 after buying an additional 1,534 shares during the period. Bowling Portfolio Management LLC raised its position in LCI Industries by 39.5% in the second quarter. Bowling Portfolio Management LLC now owns 6,892 shares of the company’s stock valued at $706,000 after buying an additional 1,953 shares during the last quarter. Great West Life Assurance Co. Can raised its position in LCI Industries by 4.6% in the second quarter. Great West Life Assurance Co. Can now owns 35,853 shares of the company’s stock valued at $3,667,000 after buying an additional 1,569 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in LCI Industries by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 200,000 shares of the company’s stock valued at $20,480,000 after buying an additional 15,000 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in LCI Industries by 1.4% in the second quarter. Texas Permanent School Fund now owns 18,183 shares of the company’s stock valued at $1,862,000 after buying an additional 259 shares during the last quarter.
About LCI Industries
LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.
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