HC Wainwright Issues Positive Forecast for LSI Industries (NASDAQ:LYTS) Stock Price

LSI Industries (NASDAQ:LYTS) had its price target lifted by HC Wainwright from $20.00 to $30.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

LSI Industries Trading Down 10.7 %

LYTS opened at $22.08 on Friday. The firm’s fifty day simple moving average is $19.87 and its 200 day simple moving average is $17.40. LSI Industries has a 12 month low of $13.35 and a 12 month high of $25.50. The stock has a market capitalization of $658.87 million, a P/E ratio of 27.95 and a beta of 0.93. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings results on Thursday, January 23rd. The construction company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.71% and a net margin of 4.88%. As a group, research analysts anticipate that LSI Industries will post 0.86 EPS for the current fiscal year.

LSI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Monday, February 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.20 annualized dividend and a yield of 0.91%. LSI Industries’s payout ratio is 25.32%.

Institutional Investors Weigh In On LSI Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Systematic Financial Management LP boosted its position in LSI Industries by 7.1% during the third quarter. Systematic Financial Management LP now owns 2,439,120 shares of the construction company’s stock valued at $39,392,000 after buying an additional 162,160 shares during the period. State Street Corp boosted its stake in LSI Industries by 1.1% during the third quarter. State Street Corp now owns 574,275 shares of the construction company’s stock worth $9,275,000 after acquiring an additional 6,098 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of LSI Industries by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company’s stock worth $4,948,000 after acquiring an additional 1,111 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of LSI Industries during the third quarter valued at approximately $3,682,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in LSI Industries by 0.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company’s stock valued at $2,345,000 after acquiring an additional 494 shares in the last quarter. 73.91% of the stock is owned by hedge funds and other institutional investors.

About LSI Industries

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.