LSI Industries (NASDAQ:LYTS) Share Price Crosses Above 50 Day Moving Average – Here’s Why

LSI Industries Inc. (NASDAQ:LYTS)’s share price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $20.54 and traded as high as $20.83. LSI Industries shares last traded at $20.61, with a volume of 222,126 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYTS. Morgan Stanley set a $30.00 price target on LSI Industries in a research report on Friday, August 21st. Weiss Ratings upgraded LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of LSI Industries in a research note on Friday, October 2nd. Wall Street Zen upgraded LSI Industries from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Finally, Oppenheimer decreased 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. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.00.

LSI Industries Stock Down 1.4%

The stock has a market capitalization of $763.26 million, a price-to-earnings ratio of 30.54 and a beta of 0.48. The business has a fifty day moving average of $20.39 and a 200 day moving average of $21.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.97 and a quick ratio of 1.22.

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

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. LSI Industries’s dividend payout ratio (DPR) is presently 29.85%.

Insider Buying and Selling at LSI Industries

In other LSI Industries news, CFO James Galeese sold 8,269 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $20.09, for a total value of $166,124.21. Following the completion of the transaction, the chief financial officer owned 190,740 shares in the company, valued at $3,831,966.60. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ernest W. Marshall, Jr. bought 2,000 shares of LSI Industries stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $19.73 per share, for a total transaction of $39,460.00. Following the acquisition, the director owned 28,643 shares of the company’s stock, valued at $565,126.39. This represents a 7.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 96,345 shares of company stock worth $1,928,267. 4.70% of the stock is currently owned by company insiders.

Institutional Trading of LSI Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. North Star Investment Management Corp. grew its stake in shares of LSI Industries by 0.9% in the 3rd quarter. North Star Investment Management Corp. now owns 185,193 shares of the construction company’s stock valued at $3,843,000 after purchasing an additional 1,730 shares during the last quarter. Annex Advisory Services LLC lifted its holdings in shares of LSI Industries by 11.9% during the third quarter. Annex Advisory Services LLC now owns 97,958 shares of the construction company’s stock worth $2,033,000 after purchasing an additional 10,431 shares during the period. Arizona State Retirement System acquired a new stake in shares of LSI Industries during the second quarter worth $242,000. Ameritas Advisory Services LLC acquired a new stake in shares of LSI Industries during the second quarter worth $31,000. Finally, AXQ Capital LP grew its position in LSI Industries by 117.7% in the 2nd quarter. AXQ Capital LP now owns 24,007 shares of the construction company’s stock valued at $638,000 after buying an additional 12,979 shares during the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.

About LSI Industries

LSI Industries Inc (NASDAQ: LYTS) designs and manufactures commercial lighting and display solutions for businesses and organizations. Its offerings include indoor and outdoor LED lighting, lighting controls, digital signage, visual display systems, and related graphics and branding products.

The company serves a range of markets, including petroleum and convenience stores, quick-service restaurants, automotive dealerships, grocery and retail locations, sports facilities, and other commercial and industrial environments.