LSI Industries (NASDAQ:LYTS) Coverage Initiated by Analysts at Oppenheimer

Analysts at Oppenheimer assumed coverage on shares of LSI Industries (NASDAQ:LYTS) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $30.00 price target on the construction company’s stock. Oppenheimer’s price objective indicates a potential upside of 27.93% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings lowered shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.75.

LSI Industries Trading Up 4.0%

Shares of LSI Industries stock opened at $23.45 on Tuesday. The firm has a market capitalization of $860.85 million, a PE ratio of 31.27 and a beta of 0.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.86. The company’s fifty day moving average price is $21.92 and its two-hundred day moving average price is $20.67. LSI Industries has a 52-week low of $16.00 and a 52-week high of $24.99.

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

Insider Transactions at LSI Industries

In related news, EVP Thomas A. Caneris sold 109,226 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $2,653,099.54. Following the completion of the transaction, the executive vice president owned 64,790 shares of the company’s stock, valued at $1,573,749.10. The trade was a 62.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wilfred T. Ogara sold 10,369 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $24.09, for a total value of $249,789.21. Following the transaction, the director directly owned 103,686 shares of the company’s stock, valued at approximately $2,497,795.74. The trade was a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 256,173 shares of company stock valued at $6,220,368. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LSI Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Bailard Inc. grew its holdings in LSI Industries by 3.4% during the 4th quarter. Bailard Inc. now owns 15,300 shares of the construction company’s stock worth $280,000 after acquiring an additional 500 shares during the last quarter. Quantinno Capital Management LP grew its holdings in LSI Industries by 1.2% during the 1st quarter. Quantinno Capital Management LP now owns 46,120 shares of the construction company’s stock worth $858,000 after acquiring an additional 536 shares during the last quarter. New York State Teachers Retirement System grew its holdings in LSI Industries by 28.5% during the 1st quarter. New York State Teachers Retirement System now owns 2,495 shares of the construction company’s stock worth $46,000 after acquiring an additional 554 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after acquiring an additional 625 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in LSI Industries by 11.8% during the 2nd quarter. Osaic Holdings Inc. now owns 6,007 shares of the construction company’s stock worth $102,000 after acquiring an additional 635 shares during the last quarter. 73.91% of the stock is owned by institutional investors.

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.