LSI Industries (NASDAQ:LYTS) Sets New 12-Month High - Time to Buy?

Key Points

• LSI Industries shares hit a new 52-week high, trading as high as $27.29 and closing around $27.18, up about 2.9% on the day.
• Analyst sentiment is mixed but generally constructive: the stock carries a “Moderate Buy” consensus with an average price target of $28.75, and Oppenheimer recently initiated coverage with an “outperform” rating and a $30 target.
• Recent fundamentals show some weakness despite the stock’s rally, as the company missed Q1 earnings and revenue estimates, while insiders have sold shares in recent transactions even as institutional ownership remains high at 73.91%.

Shares of LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $27.29 and last traded at $27.1750, with a volume of 50007 shares traded. The stock had previously closed at $25.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LYTS shares. Oppenheimer assumed coverage on LSI Industries in a research report on Tuesday, June 9th. They set an "outperform" rating and a $30.00 price target on the stock. Weiss Ratings lowered LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 22nd. Wall Street Zen cut shares of LSI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded LSI Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, LSI Industries has a consensus rating of "Moderate Buy" and an average target price of $28.75.

LSI Industries Stock Up 2.9%

The firm has a 50-day moving average of $23.56 and a two-hundred day moving average of $21.30. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $982.14 million, a price-to-earnings ratio of 35.66 and a beta of 0.53.

LSI Industries (NASDAQ:LYTS - Get Free Report) last issued its earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.34). The company had revenue of $150.53 million for the quarter, compared to analyst estimates of $163.53 million. LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. As a group, sell-side analysts anticipate that LSI Industries Inc. will post 0.78 earnings per share for the current year.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Monday, May 4th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, May 4th. LSI Industries's payout ratio is presently 26.67%.

Insider Transactions at LSI Industries

In related news, CFO James E. Galeese sold 136,578 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $3,317,479.62. Following the transaction, the chief financial officer directly owned 173,288 shares of the company's stock, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wilfred T. Ogara sold 10,369 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $24.09, for a total value of $249,789.21. Following the transaction, the director owned 103,686 shares in the company, valued at approximately $2,497,795.74. This trade represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 256,173 shares of company stock worth $6,220,368. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LSI Industries

Large investors have recently bought and sold shares of the stock. AltraVue Capital LLC lifted its stake in shares of LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company's stock valued at $26,488,000 after buying an additional 106,693 shares during the period. Royce & Associates LP grew its position in LSI Industries by 50.0% in the third quarter. Royce & Associates LP now owns 1,045,225 shares of the construction company's stock valued at $24,678,000 after acquiring an additional 348,598 shares during the period. Juniper Investment Company LLC increased its position in shares of 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 purchasing an additional 231,693 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of LSI Industries by 70.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company's stock valued at $13,604,000 after acquiring an additional 306,864 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in LSI Industries by 20.2% in the 4th quarter. Kennedy Capital Management LLC now owns 407,936 shares of the construction company's stock valued at $7,473,000 after purchasing an additional 68,441 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors and hedge funds.

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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