LSI Industries (NASDAQ:LYTS) Sets New 12-Month High - Here's What Happened

Key Points

• LSI Industries (NASDAQ: LYTS) hit a new 52-week high of $25.59 on Wednesday, extending a recent rally in the stock.
• Analyst sentiment is mixed but still constructive: Oppenheimer initiated coverage with an outperform rating and a $30 price target, while the broader consensus remains Moderate Buy with a $28.75 target.
• The company recently reported earnings below expectations, posting $0.06 EPS versus the $0.40 estimate, even as insiders sold shares and institutional ownership remained high at 73.91%.

Shares of LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.59 and last traded at $24.5250, with a volume of 161 shares. The stock had previously closed at $24.53.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LYTS shares. Zacks Research upgraded LSI Industries from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Oppenheimer began coverage on LSI Industries in a research note on Tuesday. They issued an "outperform" rating and a $30.00 price target for the company. Weiss Ratings cut LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 22nd. Finally, Wall Street Zen downgraded LSI Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.75.

LSI Industries Stock Performance

The stock has a fifty day simple moving average of $22.04 and a two-hundred day simple moving average of $20.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48. The stock has a market cap of $892.24 million, a price-to-earnings ratio of 32.70 and a beta of 0.53.

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

LSI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, May 4th. LSI Industries's dividend payout ratio (DPR) is presently 26.67%.

Insider Activity at LSI Industries

In related news, EVP Thomas A. Caneris sold 109,226 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $2,653,099.54. Following the completion of the transaction, the executive vice president directly owned 64,790 shares in the company, valued at $1,573,749.10. This represents a 62.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James E. Galeese sold 136,578 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the completion of the sale, the chief financial officer owned 173,288 shares in the company, valued at $4,209,165.52. This represents a 44.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 256,173 shares of company stock valued at $6,220,368. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On LSI Industries

A number of institutional investors and hedge funds have recently bought and sold shares of LYTS. Royce & Associates LP boosted its stake in shares of LSI Industries by 50.0% during the third quarter. Royce & Associates LP now owns 1,045,225 shares of the construction company's stock valued at $24,678,000 after purchasing an additional 348,598 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in LSI Industries by 70.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company's stock valued at $13,604,000 after buying an additional 306,864 shares during the last quarter. Juniper Investment Company LLC boosted its position in LSI Industries by 211.0% during the 4th quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company's stock worth $6,256,000 after buying an additional 231,693 shares during the period. Kennedy Capital Management LLC boosted its position in LSI Industries by 163.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 339,495 shares of the construction company's stock worth $8,015,000 after buying an additional 210,728 shares during the period. Finally, Sei Investments Co. grew its holdings in LSI Industries by 259.7% during the 1st quarter. Sei Investments Co. now owns 264,336 shares of the construction company's stock worth $4,917,000 after acquiring an additional 190,840 shares during the last quarter. 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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