State of New Jersey Common Pension Fund D decreased its position in LCI Industries (NYSE:LCII) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,000 shares of the company’s stock after selling 10,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.99% of LCI Industries worth $20,700,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Bruderman Asset Management LLC bought a new position in shares of LCI Industries in the second quarter worth about $119,000. NumerixS Investment Technologies Inc bought a new position in shares of LCI Industries in the second quarter worth about $201,000. FNY Investment Advisers LLC bought a new position in shares of LCI Industries in the second quarter worth about $204,000. WP Advisors LLC bought a new position in shares of LCI Industries in the second quarter worth about $207,000. Finally, Bank of Montreal Can bought a new position in shares of LCI Industries in the second quarter worth about $215,000. 96.55% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on LCII shares. Sidoti decreased their price objective on LCI Industries from $136.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, September 28th. Northcoast Research reaffirmed a “buy” rating on shares of LCI Industries in a research note on Friday, August 17th. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price objective on shares of LCI Industries in a research note on Wednesday, July 25th. Zacks Investment Research raised LCI Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, ValuEngine raised LCI Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $114.80.
LCI Industries (NYSE:LCII) last issued its earnings results on Thursday, August 2nd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $684.46 million for the quarter, compared to the consensus estimate of $658.81 million. LCI Industries had a return on equity of 23.39% and a net margin of 5.92%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $1.59 EPS. On average, equities analysts expect that LCI Industries will post 6.68 EPS for the current year.
About LCI Industries
LCI Industries, along 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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