LSI Industries (NASDAQ:LYTS) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of LSI Industries (NASDAQ:LYTS) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research analysts have also issued reports on LYTS. Morgan Stanley set a $30.00 price target on shares of LSI Industries in a research note on Friday, August 21st. Oppenheimer lowered their price objective on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 21st. Weiss Ratings lowered shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating on shares of LSI Industries in a research report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

LSI Industries Price Performance

Shares of LYTS stock opened at $21.09 on Friday. LSI Industries has a fifty-two week low of $17.20 and a fifty-two week high of $27.36. The firm has a market capitalization of $785.81 million, a price-to-earnings ratio of 31.48 and a beta of 0.52. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.97. The stock’s 50-day simple moving average is $21.98 and its 200-day simple moving average is $22.39.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $234.62 million for the quarter, compared to the consensus estimate of $222.78 million. LSI Industries had a net margin of 3.28% and a return on equity of 7.51%. As a group, equities analysts forecast that LSI Industries will post 0.82 earnings per share for the current fiscal year.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st were paid a $0.05 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. LSI Industries’s dividend payout ratio is presently 29.85%.

Insider Buying and Selling

In other news, CFO James E. Galeese sold 8,269 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $20.09, for a total transaction of $166,124.21. Following the sale, the chief financial officer owned 190,740 shares of the company’s stock, valued at $3,831,966.60. This trade represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. Caneris sold 5,560 shares of LSI Industries stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $20.09, for a total transaction of $111,700.40. Following the transaction, the executive vice president directly owned 76,279 shares of the company’s stock, valued at approximately $1,532,445.11. This trade represents a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 96,345 shares of company stock valued at $1,928,267 in the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Trading of LSI Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in LSI Industries in the second quarter valued at $72,118,000. Dimensional Fund Advisors LP boosted its stake in shares of LSI Industries by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company’s stock worth $27,232,000 after acquiring an additional 6,783 shares in the last quarter. AltraVue Capital LLC boosted its stake in shares of LSI Industries by 8.0% during the 4th quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock worth $26,488,000 after acquiring an additional 106,693 shares in the last quarter. Wellington Management Group LLP grew its position in shares of LSI Industries by 5.4% during the 2nd quarter. Wellington Management Group LLP now owns 1,372,841 shares of the construction company’s stock valued at $36,490,000 after acquiring an additional 70,033 shares during the period. Finally, WealthTrust Axiom LLC grew its position in shares of LSI Industries by 2.1% during the 4th quarter. WealthTrust Axiom LLC now owns 575,515 shares of the construction company’s stock valued at $10,543,000 after acquiring an additional 11,706 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.

LSI Industries Company Profile

LSI Industries Inc (NASDAQ: LYTS) is a designer and manufacturer of commercial lighting, digital displays, and related visual communication solutions. The company serves businesses and organizations that need integrated lighting, signage, and brand presentation systems for indoor and outdoor environments.

LSI’s lighting products include LED fixtures, lighting controls, and specialized systems for applications such as retail stores, commercial and industrial facilities, sports venues, educational institutions, and outdoor spaces.