Citigroup Inc. Raises Holdings in LCI Industries (NYSE:LCII)

Citigroup Inc. grew its position in shares of LCI Industries (NYSE:LCII) by 34.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 104,289 shares of the company’s stock after acquiring an additional 26,585 shares during the quarter. Citigroup Inc. owned about 0.41% of LCI Industries worth $9,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its position in shares of LCI Industries by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company’s stock valued at $268,000 after acquiring an additional 130 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of LCI Industries by 6.1% during the 1st quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company’s stock valued at $318,000 after acquiring an additional 208 shares during the last quarter. LRI Investments LLC boosted its position in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company’s stock valued at $41,000 after acquiring an additional 311 shares during the last quarter. Wesbanco Bank Inc. grew its position in LCI Industries by 12.2% in the first quarter. Wesbanco Bank Inc. now owns 3,043 shares of the company’s stock worth $266,000 after acquiring an additional 330 shares in the last quarter. Finally, South Dakota Investment Council grew its position in LCI Industries by 1.5% in the first quarter. South Dakota Investment Council now owns 27,295 shares of the company’s stock worth $2,386,000 after acquiring an additional 400 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Price Performance

Shares of LCII stock opened at $103.40 on Friday. 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 0.68, a quick ratio of 1.34 and a current ratio of 2.80. The firm has a market capitalization of $2.51 billion, a P/E ratio of 17.26 and a beta of 1.25. The stock has a 50 day moving average price of $95.72 and a 200 day moving average price of $92.41.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.17. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $2.40 EPS. LCI Industries’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that LCI Industries will post 6.76 earnings per share for the current year.

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

Analyst Ratings Changes

Several research analysts recently commented on LCII shares. Truist Financial lifted their price target on LCI Industries from $80.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, June 3rd. BMO Capital Markets lifted their price target on LCI Industries from $80.00 to $85.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 6th. Robert W. Baird dropped their price target on LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered LCI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $103.25.

LCI Industries Company Profile

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.