Canaccord Genuity Group Cuts LSI Industries (NASDAQ:LYTS) Price Target to $22.00

LSI Industries (NASDAQ:LYTS - Free Report) had its price objective trimmed by Canaccord Genuity Group from $26.00 to $22.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the construction company's stock.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of LSI Industries from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. HC Wainwright increased their price objective on shares of LSI Industries from $20.00 to $30.00 and gave the company a "buy" rating in a report on Friday, January 24th.

LSI Industries Stock Down 0.9 %

Shares of LSI Industries stock traded down $0.14 during trading on Friday, hitting $15.04. The company's stock had a trading volume of 68,848 shares, compared to its average volume of 131,620. LSI Industries has a 52 week low of $13.63 and a 52 week high of $25.50. The company has a fifty day simple moving average of $16.84 and a two-hundred day simple moving average of $18.56. The company has a market capitalization of $450.01 million, a PE ratio of 19.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.20 and a current ratio of 2.08.

LSI Industries (NASDAQ:LYTS - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The construction company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. LSI Industries had a net margin of 4.47% and a return on equity of 11.25%. The firm had revenue of $132.48 million for the quarter, compared to the consensus estimate of $129.72 million. Equities research analysts predict that LSI Industries will post 0.7 earnings per share for the current year.

LSI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Monday, May 5th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Monday, May 5th. LSI Industries's dividend payout ratio is 27.78%.

Institutional Trading of LSI Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in LSI Industries by 894.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,099 shares of the construction company's stock worth $41,000 after purchasing an additional 1,888 shares during the period. Aquatic Capital Management LLC purchased a new stake in LSI Industries in the 4th quarter worth about $46,000. Fortitude Family Office LLC raised its position in LSI Industries by 1,559.9% in the 4th quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company's stock worth $62,000 after purchasing an additional 2,995 shares during the period. Quantbot Technologies LP increased its position in shares of LSI Industries by 777.3% during the fourth quarter. Quantbot Technologies LP now owns 3,632 shares of the construction company's stock worth $71,000 after acquiring an additional 3,218 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of LSI Industries during the fourth quarter worth approximately $82,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

LSI Industries Company Profile

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.