LSI Industries (NASDAQ:LYTS) Earns “Buy” Rating from HC Wainwright

LSI Industries (NASDAQ:LYTS)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $30.00 target price on the construction company’s stock. HC Wainwright’s target price indicates a potential upside of 43.27% from the company’s current price.

Several other brokerages have also recently issued reports on LYTS. Oppenheimer cut their target price on LSI Industries from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, August 21st. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Morgan Stanley set a $30.00 target price on LSI Industries in a research report on Friday, August 21st. Finally, Wall Street Zen raised LSI Industries from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, LSI Industries presently has an average rating of “Moderate Buy” and an average target price of $29.00.

LSI Industries Trading Up 0.5%

NASDAQ LYTS opened at $20.94 on Friday. The company has a market cap of $780.25 million, a price-to-earnings ratio of 31.25 and a beta of 0.48. LSI Industries has a 52 week low of $17.20 and a 52 week high of $27.36. The business has a 50 day moving average price of $21.61 and a 200-day moving average price of $22.49. The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 0.68.

LSI Industries (NASDAQ:LYTS) last released its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $234.62 million during the quarter, compared to the consensus estimate of $222.78 million. LSI Industries had a return on equity of 7.51% and a net margin of 3.28%. As a group, equities analysts expect that LSI Industries will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LSI Industries news, Director Ernest W. Marshall, Jr. acquired 2,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were acquired at an average price of $19.73 per share, with a total value of $39,460.00. Following the completion of the transaction, the director owned 28,643 shares in the company, valued at approximately $565,126.39. This trade represents a 7.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Thomas Caneris sold 5,560 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $20.09, for a total value of $111,700.40. Following the completion of the transaction, the executive vice president directly owned 76,279 shares in the company, valued at approximately $1,532,445.11. This represents a 6.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 96,345 shares of company stock worth $1,928,267 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC purchased a new position in LSI Industries in the second quarter worth $31,000. Northwestern Mutual Wealth Management Co. purchased a new position in LSI Industries in the second quarter worth $41,000. PenderFund Capital Management Ltd. purchased a new position in LSI Industries in the second quarter worth $41,000. Rockefeller Capital Management L.P. boosted its position in LSI Industries by 57.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after purchasing an additional 625 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in LSI Industries in the second quarter worth $59,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

LSI Industries Company Profile

LSI Industries Inc is a commercial lighting and visual solutions company headquartered in Cincinnati, Ohio. The company designs and manufactures indoor and outdoor lighting systems, digital signage, display products and related technologies for commercial and industrial customers.

Its product portfolio includes LED lighting fixtures and controls, digital displays, petroleum and convenience-store signage, canopy systems, retail graphics, and sports lighting solutions. LSI Industries serves customers in markets such as convenience stores and fuel stations, retail, grocery, commercial facilities, sports venues, and other outdoor environments.

The company’s solutions are used to support facility illumination, branding, wayfinding, advertising and customer engagement.