LSI Industries’ (LYTS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of LSI Industries (NASDAQ:LYTS) in a report issued on Friday,Benzinga reports. HC Wainwright currently has a $30.00 target price on the construction company’s stock.

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

LSI Industries Stock Performance

Shares of LYTS stock opened at $21.25 on Friday. 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 has a fifty-two week low of $17.20 and a fifty-two week high of $27.36. The firm’s 50 day moving average price is $21.72 and its two-hundred day moving average price is $22.46. The stock has a market cap of $791.77 million, a price-to-earnings ratio of 31.72 and a beta of 0.48.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings results on Thursday, August 20th. The construction company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. LSI Industries had a net margin of 3.28% and a return on equity of 7.51%. The firm had revenue of $234.62 million during the quarter, compared to analysts’ expectations of $222.78 million. On average, analysts anticipate that LSI Industries will post 0.82 EPS for the current year.

LSI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 31st. LSI Industries’s dividend payout ratio (DPR) is 29.85%.

Insider Transactions at LSI Industries

In related news, CEO James Clark sold 13,907 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total value of $282,033.96. Following the completion of the sale, the chief executive officer directly owned 595,734 shares of the company’s stock, valued at $12,081,485.52. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas Caneris sold 3,170 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $64,287.60. Following the sale, the executive vice president owned 73,109 shares in the company, valued at $1,482,650.52. The trade was a 4.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 96,345 shares of company stock valued at $1,928,267 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On LSI Industries

Several institutional investors and hedge funds have recently made changes to their positions in LYTS. Arizona State Retirement System bought a new position in LSI Industries during the second quarter worth $242,000. Ameritas Advisory Services LLC bought a new stake in LSI Industries during the second quarter valued at $31,000. AXQ Capital LP increased its stake in LSI Industries by 117.7% during the second quarter. AXQ Capital LP now owns 24,007 shares of the construction company’s stock valued at $638,000 after purchasing an additional 12,979 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in LSI Industries by 17.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,610 shares of the construction company’s stock valued at $1,106,000 after purchasing an additional 6,273 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of LSI Industries by 5.4% during the second quarter. Wellington Management Group LLP now owns 1,372,841 shares of the construction company’s stock worth $36,490,000 after purchasing an additional 70,033 shares during the period. 73.91% of the stock is owned by institutional investors and hedge funds.

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.