LSI Industries (NASDAQ:LYTS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

LSI Industries Inc. (NASDAQ:LYTS) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.75 and traded as high as $25.60. LSI Industries shares last traded at $24.91, with a volume of 251,011 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Oppenheimer initiated coverage on LSI Industries in a research note on Tuesday, June 9th. They set an “outperform” rating and a $30.00 price target for the company. Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen lowered LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.75.

LSI Industries Price Performance

The company has a market capitalization of $895.72 million, a P/E ratio of 32.53 and a beta of 0.53. The business’s 50-day moving average is $24.59 and its two-hundred day moving average is $21.79. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58.

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

LSI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. LSI Industries’s dividend payout ratio is currently 26.67%.

Insider Activity at LSI Industries

In other LSI Industries news, CFO James E. Galeese sold 136,578 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $3,317,479.62. Following the transaction, the chief financial officer owned 173,288 shares of the company’s stock, valued at approximately $4,209,165.52. The trade was a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas A. Caneris sold 109,226 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were 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. This trade represents a 62.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 256,173 shares of company stock valued at $6,220,368. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On LSI Industries

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in LSI Industries by 3.2% during the third quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company’s stock valued at $39,133,000 after buying an additional 50,722 shares during the period. Dimensional Fund Advisors LP raised its position in LSI Industries by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company’s stock worth $27,232,000 after acquiring an additional 6,783 shares during the period. AltraVue Capital LLC raised its position in LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock worth $26,488,000 after acquiring an additional 106,693 shares during the period. Royce & Associates LP boosted its stake in LSI Industries by 16.4% in the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company’s stock valued at $22,284,000 after acquiring an additional 171,124 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in LSI Industries by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company’s stock valued at $13,985,000 after acquiring an additional 26,700 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors.

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.