LSI Industries Inc. (NASDAQ:LYTS) Sees Large Decrease in Short Interest

LSI Industries Inc. (NASDAQ:LYTS) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 266,700 shares, a decline of 34.0% from the February 28th total of 403,900 shares. Based on an average daily volume of 155,600 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.0% of the company’s stock are short sold.

LSI Industries Stock Performance

Shares of LYTS stock traded down $0.39 during trading hours on Friday, hitting $17.19. 114,167 shares of the company were exchanged, compared to its average volume of 121,892. The company has a current ratio of 2.08, a quick ratio of 1.20 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $514.34 million, a price-to-earnings ratio of 22.32 and a beta of 1.00. The firm has a fifty day simple moving average of $19.29 and a 200 day simple moving average of $18.58. LSI Industries has a 52-week low of $13.63 and a 52-week high of $25.50.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, January 23rd. The construction company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.25% and a net margin of 4.47%. Research analysts predict that LSI Industries will post 0.7 earnings per share for the current fiscal year.

LSI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, February 3rd. LSI Industries’s dividend payout ratio (DPR) is presently 25.97%.

Hedge Funds Weigh In On LSI Industries

Several large investors have recently modified their holdings of LYTS. FMR LLC boosted its holdings in LSI Industries by 24.0% in the 3rd quarter. FMR LLC now owns 86,748 shares of the construction company’s stock worth $1,401,000 after buying an additional 16,780 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of LSI Industries by 8.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 33,526 shares of the construction company’s stock valued at $541,000 after purchasing an additional 2,702 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of LSI Industries by 1.4% during the 3rd quarter. Martingale Asset Management L P now owns 82,256 shares of the construction company’s stock valued at $1,328,000 after purchasing an additional 1,102 shares during the period. Centiva Capital LP purchased a new stake in LSI Industries during the 3rd quarter worth about $220,000. Finally, Quarry LP bought a new position in LSI Industries in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Analyst Ratings Changes

LYTS has been the subject of several analyst reports. HC Wainwright increased their price objective on shares of LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Canaccord Genuity Group increased their price target on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, StockNews.com cut LSI Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

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.