Short Interest in LCI Industries (NYSE:LCII) Grows By 44.3%

LCI Industries (NYSE:LCII) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,410,000 shares, an increase of 44.3% from the February 28th total of 1,670,000 shares. Currently, 9.9% of the company’s shares are short sold. Based on an average trading volume of 361,800 shares, the days-to-cover ratio is currently 6.7 days.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. CJS Securities upgraded shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research report on Wednesday, February 12th. StockNews.com downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, Truist Financial raised their price objective on LCI Industries from $102.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, LCI Industries has an average rating of “Hold” and a consensus price target of $121.50.

LCI Industries Stock Up 0.3 %

Shares of NYSE:LCII traded up $0.29 on Tuesday, reaching $87.72. The company had a trading volume of 386,318 shares, compared to its average volume of 259,591. The stock has a market capitalization of $2.23 billion, a P/E ratio of 15.66 and a beta of 1.45. The stock has a 50-day moving average price of $100.01 and a 200 day moving average price of $109.11. LCI Industries has a twelve month low of $85.69 and a twelve month high of $129.38. The company has a quick ratio of 1.03, a current ratio of 2.82 and a debt-to-equity ratio of 0.55.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share (EPS) 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%. On average, equities analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $1.15 dividend. The ex-dividend date was Friday, March 7th. This represents a $4.60 dividend on an annualized basis and a yield of 5.24%. LCI Industries’s payout ratio is presently 82.14%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LCII. Norges Bank acquired a new stake in shares of LCI Industries in the fourth quarter valued at about $26,402,000. Royce & Associates LP grew its holdings in LCI Industries by 46.1% in the 4th quarter. Royce & Associates LP now owns 546,623 shares of the company’s stock valued at $56,515,000 after buying an additional 172,586 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in LCI Industries by 7.6% in the 4th 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 during the last quarter. Bank of New York Mellon Corp increased its position in LCI Industries by 29.2% in 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 during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of LCI Industries by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company’s stock worth $301,203,000 after buying an additional 56,794 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

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.