LSI Industries (NASDAQ:LYTS) Shares Gap Up - Should You Buy?

Key Points

• Shares gapped up pre-market, opening at $22.44 from a prior close of $20.71 and last trading around $22.97 on roughly 60,200 shares.
• Analysts give LSI a consensus "Moderate Buy" (three Buys, two Holds) with an average price target of $28.33 and several recent upgrades/target increases.
• The company beat quarterly estimates (EPS $0.26 vs $0.17, revenue $147M vs $140.11M), has a market cap near $699M, a PE of 27.3, and about 74% institutional ownership.

Shares of LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $20.71, but opened at $22.44. LSI Industries shares last traded at $22.9740, with a volume of 60,198 shares.

Analyst Ratings Changes

LYTS has been the topic of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of LSI Industries in a report on Monday, December 29th. Canaccord Genuity Group raised their price target on shares of LSI Industries from $25.00 to $27.00 and gave the company a "buy" rating in a report on Friday, January 23rd. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of LSI Industries in a report on Tuesday, January 27th. Zacks Research upgraded shares of LSI Industries from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Finally, Wall Street Zen upgraded shares of LSI Industries from a "hold" rating to a "buy" rating in a report on Sunday, February 15th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, LSI Industries has a consensus rating of "Moderate Buy" and an average target price of $28.33.

LSI Industries Price Performance

The stock has a market cap of $699.18 million, a PE ratio of 27.31 and a beta of 0.32. The company's fifty day moving average is $20.09 and its 200 day moving average is $20.26. The company has a quick ratio of 1.21, a current ratio of 2.15 and a debt-to-equity ratio of 0.11.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.09. The company had revenue of $147.00 million for the quarter, compared to analyst estimates of $140.11 million. LSI Industries had a net margin of 4.34% and a return on equity of 10.90%. As a group, sell-side analysts anticipate that LSI Industries Inc. will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of LSI Industries

A number of hedge funds have recently made changes to their positions in LYTS. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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. raised its stake in shares of 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 purchased a new stake in shares of LSI Industries during the first quarter valued at approximately $34,000. New York State Teachers Retirement System purchased a new stake in shares of LSI Industries during the fourth quarter valued at approximately $36,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of LSI Industries during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors 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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