Short Interest in LCI Industries (NYSE:LCII) Decreases By 7.4%

LCI Industries (NYSE:LCII) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,370,000 shares, a decrease of 7.4% from the September 30th total of 1,480,000 shares. Based on an average trading volume of 168,200 shares, the days-to-cover ratio is currently 8.1 days. Currently, 5.7% of the company’s stock are short sold.

A number of research firms have weighed in on LCII. Sidoti lowered shares of LCI Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $108.00 in a research note on Thursday, October 31st. Citigroup raised their price objective on shares of LCI Industries from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Zacks Investment Research lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, ValuEngine raised shares of LCI Industries from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $108.50.

Shares of LCII stock traded up $0.59 on Tuesday, hitting $105.70. The stock had a trading volume of 3,983 shares, compared to its average volume of 194,259. The business has a 50 day moving average of $97.18 and a 200 day moving average of $90.94. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.13 and a beta of 1.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.27 and a quick ratio of 0.96. LCI Industries has a 12-month low of $59.68 and a 12-month high of $107.49.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, November 5th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The company had revenue of $586.20 million during the quarter, compared to the consensus estimate of $578.87 million. LCI Industries had a net margin of 5.88% and a return on equity of 18.73%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, research analysts expect that LCI Industries will post 5.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.60 annualized dividend and a dividend yield of 2.46%. LCI Industries’s dividend payout ratio is currently 44.37%.

In related news, Director David A. Reed sold 5,714 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.06, for a total transaction of $543,172.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Reed sold 500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $95.02, for a total transaction of $47,510.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,542 shares of company stock worth $906,943. 3.30% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in LCII. Strs Ohio purchased a new stake in LCI Industries during the second quarter worth about $45,000. Versant Capital Management Inc increased its holdings in LCI Industries by 41.9% during the third quarter. Versant Capital Management Inc now owns 647 shares of the company’s stock worth $59,000 after buying an additional 191 shares during the last quarter. Anderson Fisher LLC purchased a new stake in LCI Industries during the second quarter worth about $80,000. Cullen Frost Bankers Inc. increased its holdings in LCI Industries by 17.4% during the second quarter. Cullen Frost Bankers Inc. now owns 939 shares of the company’s stock worth $85,000 after buying an additional 139 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in LCI Industries during the second quarter worth about $135,000. Institutional investors own 96.05% of the company’s stock.

LCI Industries Company Profile

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.

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