LSI Industries Inc. (NASDAQ:LYTS) Short Interest Up 15.7% in April

Key Points

• Short interest rose 15.7% in April to 719,339 shares, equal to 2.5% of shares sold short and a short-interest ratio of 2.5 days based on average daily volume.
• LSI missed expectations for the quarter, reporting EPS of $0.06 versus a $0.40 consensus and revenue of $150.53 million versus $163.53 million, indicating a notable earnings and sales shortfall.
• Shares opened at $24.31 (up 6.1%), the company has a market cap of about $757 million, a Moderate Buy analyst consensus with a $28.33 target, and recently declared a $0.05 quarterly dividend (0.8% yield).

LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 719,339 shares, an increase of 15.7% from the March 31st total of 621,745 shares. Based on an average trading volume of 285,183 shares, the short-interest ratio is currently 2.5 days. Currently, 2.5% of the shares of the stock are sold short.

LSI Industries Stock Up 6.1%

Shares of NASDAQ:LYTS opened at $24.31 on Friday. LSI Industries has a one year low of $15.08 and a one year high of $24.75. The company has a 50 day moving average of $20.18 and a 200-day moving average of $20.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.15 and a quick ratio of 1.21. The stock has a market cap of $756.77 million, a price-to-earnings ratio of 32.41 and a beta of 0.32.

LSI Industries (NASDAQ:LYTS - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.34). The business had revenue of $150.53 million for the quarter, compared to analyst estimates of $163.53 million. LSI Industries had a return on equity of 9.95% and a net margin of 3.91%. On average, sell-side analysts forecast that LSI Industries will post 0.81 earnings per share for the current year.

LSI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 12th. Investors of record on Monday, May 4th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, May 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. LSI Industries's payout ratio is currently 26.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LYTS shares. Wall Street Zen upgraded shares of LSI Industries from a "hold" rating to a "buy" rating in a research report on Sunday, February 15th. Zacks Research upgraded shares of LSI Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of LSI Industries in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group lifted their price target on shares of LSI Industries from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LYTS. Northwestern Mutual Wealth Management Co. grew its holdings in LSI Industries by 205.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company's stock valued at $28,000 after purchasing an additional 1,031 shares during the period. Rockefeller Capital Management L.P. grew its holdings in LSI Industries by 57.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company's stock valued at $31,000 after purchasing an additional 625 shares during the period. Strs Ohio acquired a new position in LSI Industries during the first quarter valued at approximately $34,000. New York State Teachers Retirement System acquired a new position in LSI Industries during the fourth quarter valued at approximately $36,000. Finally, State of Alaska Department of Revenue acquired a new position in LSI Industries during the third quarter valued at approximately $38,000. Institutional investors and hedge funds 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.

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