LCI Industries (NYSE:LCII) Reaches New 52-Week High – Should You Buy?

LCI Industries (NYSE:LCII)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $137.95 and last traded at $137.5230, with a volume of 95288 shares trading hands. The stock had previously closed at $137.40.

Analyst Upgrades and Downgrades

LCII has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LCI Industries in a research note on Wednesday, October 8th. Robert W. Baird raised their target price on shares of LCI Industries from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Loop Capital began coverage on shares of LCI Industries in a research report on Friday, October 31st. They issued a “buy” rating and a $116.00 price target on the stock. Truist Financial increased their price objective on shares of LCI Industries from $88.00 to $91.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, BMO Capital Markets raised shares of LCI Industries from an “underperform” rating to a “market perform” rating and set a $110.00 price objective for the company in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.67.

LCI Industries Trading Up 0.4%

The company has a 50-day moving average price of $120.06 and a two-hundred day moving average price of $105.90. The stock has a market cap of $3.34 billion, a P/E ratio of 19.30 and a beta of 1.31. The company has a current ratio of 2.78, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.53. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $963.96 million. LCI Industries had a return on equity of 12.60% and a net margin of 4.49%.LCI Industries’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. On average, research analysts expect that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.3%. LCI Industries’s payout ratio is currently 64.34%.

Institutional Trading of LCI Industries

Several institutional investors have recently added to or reduced their stakes in the company. ARGA Investment Management LP boosted its stake in shares of LCI Industries by 1,386.8% during the second quarter. ARGA Investment Management LP now owns 424,374 shares of the company’s stock valued at $38,699,000 after purchasing an additional 395,831 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new stake in LCI Industries during the 4th quarter valued at about $27,142,000. Bank of Montreal Can boosted its position in LCI Industries by 70.4% in the 2nd quarter. Bank of Montreal Can now owns 435,844 shares of the company’s stock valued at $39,745,000 after buying an additional 180,060 shares during the period. Bridgeway Capital Management LLC bought a new position in LCI Industries in the 2nd quarter worth about $15,633,000. Finally, Frontier Capital Management Co. LLC increased its position in shares of LCI Industries by 47.0% during the second quarter. Frontier Capital Management Co. LLC now owns 504,761 shares of the company’s stock worth $46,029,000 after acquiring an additional 161,472 shares during the period. Institutional investors own 99.71% of the company’s stock.

About LCI Industries

LCI Industries is a publicly traded manufacturer specializing in engineered components and systems for the recreation vehicle (RV), marine and housing industries. The company develops and supplies a diverse range of products designed to enhance comfort, convenience and functionality in mobile and leisure applications. LCI Industries serves original equipment manufacturers (OEMs) and aftermarket customers throughout North America.

The company’s core offerings include power conversion and control systems, slideout mechanisms, entry and docking products, seating and furniture solutions, as well as window and door assemblies.