Why Lennox Shares Are Trading Lower Today

Lennox International Inc. LII shares are trading lower by 6.6% at $313.86 Wednesday afternoon. The company earlier announced its CEO will step down in 2022 and raised its FY21 guidance, though the midpoint of guidance was still below consensus estimates.

Deutsche Bank analyst Nicole Deblase also maintained Lennox with a Hold and raised the price target from $347 to $351.

See Also: Lennox International CEO Todd Bluedorn Retiring After 15 Years

Lennox manufactures and distributes heating, ventilating, air conditioning, and refrigeration products to replacement (75% of sales) and new construction (25% of sales) markets. In fiscal 2020, residential HVAC was 65% of sales, commercial HVAC was 22% and refrigeration accounted for the remaining 13% of sales.

Lennox goes to market with multiple brands, but Lennox is the company's flagship HVAC brand. The Texas-based company generates most of its sales in North America.

Lennox has a 52-week high of $356.36 and a 52-week low of $229.37.