LSI Industries (NASDAQ:LYTS) Cut to Buy at StockNews.com

StockNews.com cut shares of LSI Industries (NASDAQ:LYTS) from a strong-buy rating to a buy rating in a report published on Wednesday.

Several other research analysts have also recently commented on LYTS. Canaccord Genuity Group lowered their price target on LSI Industries from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, April 25th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of LSI Industries in a report on Friday, April 25th.

LSI Industries Trading Up 4.5 %

Shares of NASDAQ LYTS opened at $15.95 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $477.24 million, a P/E ratio of 20.71 and a beta of 0.70. LSI Industries has a 52-week low of $13.63 and a 52-week high of $25.50. The stock’s 50 day moving average price is $16.63 and its two-hundred day moving average price is $18.53.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings data on Thursday, April 24th. The construction company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $132.48 million during the quarter, compared to the consensus estimate of $129.72 million. LSI Industries had a net margin of 4.47% and a return on equity of 11.25%. On average, analysts anticipate that LSI Industries will post 0.7 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, May 5th. This represents a $0.20 annualized dividend and a yield of 1.25%. LSI Industries’s payout ratio is presently 27.78%.

Hedge Funds Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYTS. Russell Investments Group Ltd. grew its stake in LSI Industries by 894.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,099 shares of the construction company’s stock valued at $41,000 after acquiring an additional 1,888 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in LSI Industries during the fourth quarter valued at $46,000. Fortitude Family Office LLC increased its position in LSI Industries by 1,559.9% in the 4th quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock worth $62,000 after purchasing an additional 2,995 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of LSI Industries by 777.3% during the 4th quarter. Quantbot Technologies LP now owns 3,632 shares of the construction company’s stock worth $71,000 after purchasing an additional 3,218 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of LSI Industries in the 4th quarter valued at approximately $82,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

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.