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

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

Wall Street Analysts Forecast Growth

LYTS has been the topic of several research reports. Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings lowered LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Oppenheimer began coverage on LSI Industries in a report on Tuesday, June 9th. They set an “outperform” rating and a $30.00 price target for the company. Finally, Wall Street Zen downgraded LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.75.

LSI Industries Stock Performance

The business’s fifty day moving average price is $22.85 and its two-hundred day moving average price is $21.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48. The stock has a market capitalization of $968.28 million, a P/E ratio of 35.17 and a beta of 0.53.

LSI Industries (NASDAQ:LYTS) last announced its 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 for the quarter, compared to analysts’ expectations of $163.53 million. As a group, sell-side 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. The ex-dividend date was Monday, May 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. LSI Industries’s dividend payout ratio is 26.67%.

Insider Activity

In other news, Director Wilfred T. Ogara sold 10,369 shares of LSI Industries stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $24.09, for a total value of $249,789.21. Following the completion of the transaction, the director owned 103,686 shares in the company, valued at approximately $2,497,795.74. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James E. Galeese sold 136,578 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were 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 in the company, valued at approximately $4,209,165.52. This represents a 44.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 256,173 shares of company stock valued at $6,220,368 in the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bailard Inc. raised its stake in shares of LSI Industries by 3.4% in the fourth quarter. Bailard Inc. now owns 15,300 shares of the construction company’s stock valued at $280,000 after acquiring an additional 500 shares during the period. Quantinno Capital Management LP boosted its stake in shares of 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 purchasing an additional 536 shares during the period. 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 valued at $46,000 after purchasing 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 valued at $31,000 after purchasing an additional 625 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in LSI Industries by 11.8% in the 2nd quarter. Osaic Holdings Inc. now owns 6,007 shares of the construction company’s stock worth $102,000 after purchasing an additional 635 shares during the period. 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.