LSI Industries (NASDAQ:LYTS) PT Raised to $18.00 at Canaccord Genuity Group

LSI Industries (NASDAQ:LYTS) had its price objective increased by Canaccord Genuity Group from $17.00 to $18.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other brokerages have also weighed in on LYTS. HC Wainwright reaffirmed a buy rating and issued a $20.00 price objective on shares of LSI Industries in a report on Monday, April 22nd. StockNews.com upgraded LSI Industries from a buy rating to a strong-buy rating in a research note on Saturday, February 3rd.

LSI Industries Stock Up 1.6 %

LYTS opened at $15.01 on Friday. The business has a 50 day moving average price of $14.60 and a two-hundred day moving average price of $14.10. LSI Industries has a 52 week low of $11.44 and a 52 week high of $16.97. The company has a market cap of $436.34 million, a PE ratio of 16.14 and a beta of 0.85. The company has a quick ratio of 1.24, a current ratio of 2.16 and a debt-to-equity ratio of 0.10.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Monday, May 6th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.20 annualized dividend and a yield of 1.33%. LSI Industries’s payout ratio is currently 21.51%.

Institutional Investors Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LYTS. Bank of New York Mellon Corp increased its stake in LSI Industries by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 281,795 shares of the construction company’s stock valued at $4,475,000 after purchasing an additional 2,146 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in LSI Industries during the third quarter worth approximately $247,000. Arete Wealth Advisors LLC purchased a new stake in LSI Industries in the 3rd quarter worth approximately $364,000. Los Angeles Capital Management LLC acquired a new position in LSI Industries in the 3rd quarter valued at $1,073,000. Finally, Jump Financial LLC lifted its stake in shares of LSI Industries by 6.2% during the 3rd quarter. Jump Financial LLC now owns 29,000 shares of the construction company’s stock worth $461,000 after purchasing an additional 1,700 shares during the period. 73.91% of the stock is currently owned by institutional investors and hedge funds.

LSI Industries Company Profile

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.