Oppenheimer Begins Coverage on LSI Industries (NASDAQ:LYTS)

Research analysts at Oppenheimer started coverage on shares of LSI Industries (NASDAQ:LYTS) in a research note issued on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $30.00 price target on the construction company’s stock. Oppenheimer’s price target points to a potential upside of 27.93% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

LSI Industries Stock Performance

Shares of LYTS stock opened at $23.45 on Tuesday. The business’s 50 day simple moving average is $21.92 and its 200 day simple moving average is $20.67. LSI Industries has a one year low of $16.00 and a one year high of $24.99. The stock has a market capitalization of $860.85 million, a PE ratio of 31.27 and a beta of 0.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.86.

LSI Industries (NASDAQ:LYTS) last announced its earnings results on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.34). LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. The company had revenue of $150.53 million during the quarter, compared to the consensus estimate of $163.53 million. As a group, research analysts forecast that LSI Industries will post 0.81 earnings per share for the current year.

Insider Buying and Selling at LSI Industries

In other LSI Industries news, Director Wilfred T. Ogara sold 10,369 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.09, for a total transaction of $249,789.21. Following the transaction, the director directly owned 103,686 shares in the company, valued at approximately $2,497,795.74. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas A. Caneris sold 109,226 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total value of $2,653,099.54. Following the sale, the executive vice president directly owned 64,790 shares of the company’s stock, valued at approximately $1,573,749.10. This represents a 62.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 256,173 shares of company stock worth $6,220,368. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On LSI Industries

Several large investors have recently made changes to their positions in LYTS. Northwestern Mutual Wealth Management Co. increased its position in shares of LSI Industries by 205.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company’s stock valued at $28,000 after purchasing an additional 1,031 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock valued at $31,000 after purchasing an additional 625 shares during the last quarter. Strs Ohio purchased a new stake in shares of LSI Industries during the 1st quarter valued at $34,000. New York State Teachers Retirement System purchased a new stake in shares of LSI Industries during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of LSI Industries during the 2nd quarter valued at $47,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

LSI Industries Company Profile

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.