LSI Industries (NASDAQ:LYTS) Sets New 12-Month High - Still a Buy?

Key Points

• LSI Industries shares hit a new 52-week high of $24.99, reflecting recent momentum in the stock despite relatively light trading volume.
• Analyst sentiment is mixed but constructive, with the stock carrying a Moderate Buy rating and a consensus price target of $28.33; several firms recently raised targets or upgraded the shares.
• The company’s latest earnings missed expectations, posting $0.06 EPS versus the $0.40 estimate and revenue below forecasts, though it recently announced a $0.05 quarterly dividend payable on May 12.

LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) shares hit a new 52-week high during 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 topic of several analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of LSI Industries in a research note on Friday. Zacks Research raised LSI Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Canaccord Genuity Group boosted their price target on LSI Industries from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Wall Street Zen raised LSI Industries from a "hold" rating to a "buy" rating in a research report on Sunday, February 15th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of LSI Industries in a report on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.33.

LSI Industries Price Performance

The company has a quick ratio of 1.21, a current ratio of 2.15 and a debt-to-equity ratio of 0.11. The firm has a market cap of $757.92 million, a P/E ratio of 32.28 and a beta of 0.54. The business has a fifty day moving average of $20.32 and a 200 day moving average of $20.32.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.34). LSI Industries had a return on equity of 9.95% 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. On average, sell-side analysts anticipate that LSI Industries Inc. 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. Stockholders of record on Monday, May 4th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, May 4th. LSI Industries's payout ratio is currently 26.67%.

Institutional Investors Weigh In On LSI Industries

A number of institutional investors have recently made changes to their positions in LYTS. AQR Capital Management LLC raised its position in shares of LSI Industries by 26.7% in the first quarter. AQR Capital Management LLC now owns 61,107 shares of the construction company's stock valued at $1,039,000 after buying an additional 12,876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in LSI Industries by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,165 shares of the construction company's stock valued at $292,000 after purchasing an additional 1,113 shares in the last quarter. Jane Street Group LLC acquired a new position in LSI Industries during the first quarter valued at approximately $560,000. Strs Ohio acquired a new position in LSI Industries during the first quarter valued at approximately $34,000. Finally, Quantbot Technologies LP raised its position in LSI Industries by 133.3% during the second quarter. Quantbot Technologies LP now owns 5,611 shares of the construction company's stock valued at $95,000 after purchasing an additional 3,206 shares in the last quarter. Institutional investors own 73.91% of the company's stock.

About LSI Industries

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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