LSI Industries (NASDAQ:LYTS) Sets New 1-Year High – Here’s Why

Shares of LSI Industries Inc. (NASDAQ:LYTS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.99 and last traded at $24.8040, with a volume of 8067 shares. The stock had previously closed at $24.42.

Analysts Set New Price Targets

LYTS has been the subject of several research reports. Wall Street Zen raised LSI Industries from a “hold” rating to a “buy” rating in a report on Sunday, February 15th. Canaccord Genuity Group lifted their price objective on LSI Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LSI Industries in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of LSI Industries in a report on Tuesday, January 27th. Finally, Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.33.

LSI Industries Stock Down 0.5%

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 1.21. The firm has a 50-day simple moving average of $20.48 and a two-hundred day simple moving average of $20.35. The company has a market cap of $753.42 million, a PE ratio of 32.27 and a beta of 0.54.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.34). The business had revenue of $150.53 million during the quarter, compared to analysts’ expectations of $163.53 million. LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. Research analysts anticipate that LSI Industries Inc. will post 0.81 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. LSI Industries’s payout ratio is currently 26.67%.

Institutional Investors Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of LSI Industries by 3.2% in the third quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company’s stock valued at $39,133,000 after purchasing an additional 50,722 shares during the period. Dimensional Fund Advisors LP grew its position in shares of LSI Industries by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company’s stock valued at $27,232,000 after purchasing an additional 6,783 shares during the period. AltraVue Capital LLC grew its position in shares of LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock valued at $26,488,000 after purchasing an additional 106,693 shares during the period. Royce & Associates LP grew its position in LSI Industries by 16.4% during the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company’s stock valued at $22,284,000 after acquiring an additional 171,124 shares during the period. Finally, Geode Capital Management LLC grew its position in LSI Industries by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company’s stock valued at $13,985,000 after acquiring an additional 26,700 shares during the period. Hedge funds and other institutional investors own 73.91% of the company’s stock.

LSI Industries Company Profile

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.