Truist Financial Has Lowered Expectations for LCI Industries (NYSE:LCII) Stock Price

LCI Industries (NYSE:LCII) had its price objective cut by Truist Financial from $108.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

LCII has been the subject of a number of other reports. StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $100.00 price objective (down from $130.00) on shares of LCI Industries in a report on Friday, April 4th. CJS Securities raised shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Wednesday, February 12th. Finally, Baird R W cut shares of LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, LCI Industries presently has an average rating of “Hold” and an average target price of $111.60.

LCI Industries Stock Performance

NYSE LCII opened at $75.65 on Monday. The company’s fifty day moving average is $93.08 and its two-hundred day moving average is $105.48. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 13.51 and a beta of 1.36.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. Equities research analysts forecast that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Friday, March 7th. LCI Industries’s dividend payout ratio is currently 82.14%.

Institutional Trading of LCI Industries

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in LCI Industries during the 4th quarter worth approximately $26,402,000. Royce & Associates LP grew its holdings in shares of LCI Industries by 46.1% during the fourth quarter. Royce & Associates LP now owns 546,623 shares of the company’s stock worth $56,515,000 after purchasing an additional 172,586 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of LCI Industries by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company’s stock valued at $127,904,000 after buying an additional 87,764 shares in the last quarter. Bank of New York Mellon Corp lifted its position in LCI Industries by 29.2% during the 4th quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company’s stock worth $36,975,000 after buying an additional 80,784 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in LCI Industries by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company’s stock worth $301,203,000 after acquiring an additional 56,794 shares during the last quarter. 99.71% of the stock is owned by 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.