LSI Industries (NASDAQ:LYTS) Shares Gap Up After Strong Earnings

Shares of LSI Industries Inc. (NASDAQ:LYTS) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $20.38, but opened at $22.75. LSI Industries shares last traded at $22.31, with a volume of 116,982 shares.

The construction company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. LSI Industries had a net margin of 4.21% and a return on equity of 10.96%. The business had revenue of $147.00 million during the quarter, compared to analyst estimates of $140.11 million.

LSI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Monday, November 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, November 17th. LSI Industries’s dividend payout ratio (DPR) is presently 25.00%.

Analysts Set New Price Targets

LYTS has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of LSI Industries in a report on Monday, December 29th. Wall Street Zen lowered shares of LSI Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Hedge Funds Weigh In On LSI Industries

Several hedge funds have recently added to or reduced their stakes in LYTS. Strs Ohio acquired a new position in LSI Industries in the first quarter valued at $34,000. State of Alaska Department of Revenue acquired a new position in LSI Industries during the third quarter worth approximately $38,000. EverSource Wealth Advisors LLC purchased a new stake in LSI Industries during the 2nd quarter worth approximately $47,000. Quarry LP acquired a new stake in shares of LSI Industries in the 3rd quarter valued at about $55,000. Finally, Russell Investments Group Ltd. boosted its position in LSI Industries by 711.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,703 shares of the construction company’s stock valued at $64,000 after purchasing an additional 2,370 shares during the period. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

LSI Industries Trading Up 9.5%

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.19 and a quick ratio of 1.36. The company has a market cap of $693.62 million, a price-to-earnings ratio of 27.89 and a beta of 0.18. The firm’s fifty day moving average price is $18.73 and its 200-day moving average price is $20.27.

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.