LSI Industries (NASDAQ:LYTS) Reaches New 12-Month High – What’s Next?

LSI Industries Inc. (NASDAQ:LYTS)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $26.61 and last traded at $26.38, with a volume of 178236 shares. The stock had previously closed at $25.35.

Analyst Ratings Changes

Several brokerages have recently weighed in on LYTS. Wall Street Zen cut LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Oppenheimer started coverage on LSI Industries in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Zacks Research upgraded LSI Industries from a “strong sell” rating to a “hold” rating in a research note 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.75.

LSI Industries Stock Performance

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 stock has a 50-day moving average price of $23.16 and a 200-day moving average price of $21.12. The company has a market capitalization of $976.49 million, a price-to-earnings ratio of 35.47 and a beta of 0.53.

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

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Monday, May 4th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, May 4th. LSI Industries’s payout ratio is 26.67%.

Insider Buying and Selling at LSI Industries

In related news, Director Wilfred T. Ogara sold 10,369 shares of LSI Industries stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.09, for a total transaction of $249,789.21. Following the completion of the sale, the director 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James E. Galeese sold 136,578 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the completion of the transaction, the chief financial officer owned 173,288 shares in the company, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 256,173 shares of company stock worth $6,220,368 over the last ninety days. Insiders own 7.30% of the company’s stock.

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 increased its stake in shares of LSI Industries by 26.7% during the first quarter. AQR Capital Management LLC now owns 61,107 shares of the construction company’s stock worth $1,039,000 after purchasing an additional 12,876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in LSI Industries by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,165 shares of the construction company’s stock worth $292,000 after purchasing an additional 1,113 shares during the last quarter. Jane Street Group LLC bought a new stake in LSI Industries in the 1st quarter valued at $560,000. Strs Ohio bought a new stake in LSI Industries in the 1st quarter valued at $34,000. Finally, Quantbot Technologies LP grew its holdings in LSI Industries by 133.3% in the 2nd quarter. Quantbot Technologies LP now owns 5,611 shares of the construction company’s stock valued at $95,000 after buying 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.