BidaskClub Upgrades LCI Industries (LCII) to Buy

LCI Industries (NASDAQ:LCII) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on the company. Robert W. Baird reiterated a “buy” rating and set a $115.00 target price on shares of LCI Industries in a research note on Friday, August 25th. Zacks Investment Research downgraded LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. LCI Industries has an average rating of “Hold” and an average price target of $112.33.

Shares of LCI Industries (LCII) opened at 105.90 on Friday. The company has a market capitalization of $2.64 billion and a price-to-earnings ratio of 19.12. The company’s 50-day moving average price is $99.66 and its 200-day moving average price is $99.00. LCI Industries has a one year low of $80.65 and a one year high of $117.15.

LCI Industries (NASDAQ:LCII) last posted its quarterly earnings results on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.03. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $507.56 million. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The business’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts predict that LCI Industries will post $5.79 earnings per share for the current year.

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In other news, Director David A. Reed sold 2,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $101.29, for a total transaction of $202,580.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Scott T. Mereness purchased 3,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $94.50 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the president now directly owns 204,824 shares in the company, valued at $19,355,868. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCII. Congress Asset Management Co. MA lifted its holdings in shares of LCI Industries by 11.4% during the 2nd quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock valued at $1,531,000 after buying an additional 1,534 shares during the period. Bowling Portfolio Management LLC lifted its holdings in shares of LCI Industries by 39.5% during the 2nd 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 period. Great West Life Assurance Co. Can lifted its holdings in shares of LCI Industries by 4.6% during the 2nd 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 period. State of New Jersey Common Pension Fund D lifted its holdings in shares of LCI Industries by 8.1% during the 2nd 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 period. Finally, Texas Permanent School Fund lifted its holdings in shares of LCI Industries by 1.4% during the 2nd 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 period.

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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