LSI Industries Inc. (NASDAQ:LYTS) Receives $29.00 Average Price Target from Analysts

LSI Industries Inc. (NASDAQ:LYTS) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.00.

LYTS has been the subject of a number of research reports. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Morgan Stanley set a $30.00 price objective on LSI Industries in a research note on Friday, August 21st. Oppenheimer dropped 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. HC Wainwright reiterated a “buy” rating on shares of LSI Industries in a report on Friday, August 21st. Finally, Wall Street Zen cut shares of LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th.

Insider Buying and Selling at LSI Industries

In related news, Director Ernest W. Marshall, Jr. bought 2,000 shares of the stock in a transaction dated Monday, August 24th. The shares were purchased at an average price of $19.73 per share, for a total transaction of $39,460.00. Following the completion of the purchase, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas A. Caneris sold 3,170 shares of LSI Industries stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $64,287.60. Following the transaction, the executive vice president owned 73,109 shares of the company’s stock, valued at approximately $1,482,650.52. This represents a 4.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 96,345 shares of company stock valued at $1,928,267 in the last three months. Company insiders own 7.30% of the company’s stock.

Institutional Trading of LSI Industries

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in LSI Industries in the second quarter worth approximately $72,118,000. California State Teachers Retirement System lifted its stake in shares of LSI Industries by 3,782.7% in the 2nd quarter. California State Teachers Retirement System now owns 1,005,548 shares of the construction company’s stock valued at $26,727,000 after purchasing an additional 979,650 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of LSI Industries by 70.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock valued at $13,604,000 after purchasing an additional 306,864 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of LSI Industries during the 2nd quarter worth $6,232,000. Finally, Juniper Investment Company LLC grew its holdings in shares of LSI Industries by 211.0% during the 4th quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock worth $6,256,000 after purchasing an additional 231,693 shares during the period. 73.91% of the stock is owned by hedge funds and other institutional investors.

LSI Industries Trading Up 0.6%

Shares of LSI Industries stock opened at $20.23 on Friday. The firm’s 50 day simple moving average is $23.40 and its two-hundred day simple moving average is $22.52. The firm has a market capitalization of $742.64 million, a price-to-earnings ratio of 30.19 and a beta of 0.52. LSI Industries has a 12-month low of $17.20 and a 12-month high of $27.36. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

LSI Industries (NASDAQ:LYTS) last posted 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. LSI Industries had a net margin of 3.28% and a return on equity of 8.04%. The business had revenue of $234.62 million during the quarter, compared to the consensus estimate of $222.78 million. Analysts predict that LSI Industries will post 0.82 EPS for the current year.

LSI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. LSI Industries’s dividend payout ratio is presently 29.85%.

About LSI Industries

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.