LSI Industries (NASDAQ:LYTS) Reaches New 52-Week High – What’s Next?

LSI Industries Inc. (NASDAQ:LYTS)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $25.59 and last traded at $24.5250, with a volume of 161 shares traded. The stock had previously closed at $24.53.

Analyst Ratings Changes

LYTS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Oppenheimer initiated coverage on shares of LSI Industries in a research note on Tuesday. They set an “outperform” rating and a $30.00 price target on the stock. Finally, Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, LSI Industries currently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

LSI Industries Stock Up 4.7%

The firm’s 50-day moving average price is $22.31 and its 200-day moving average price is $20.83. The company has a market cap of $946.38 million, a price-to-earnings ratio of 34.37 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 released its quarterly earnings data on Thursday, April 23rd. The construction company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.34). LSI Industries had a return on equity of 8.90% and a net margin of 3.91%.The business had revenue of $150.53 million during the quarter, compared to analyst estimates of $163.53 million. Sell-side analysts forecast that LSI Industries Inc. will post 0.81 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. LSI Industries’s dividend payout ratio is presently 26.67%.

Insider Transactions at LSI Industries

In other news, CFO James E. Galeese sold 136,578 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total value of $3,317,479.62. Following the completion of the sale, the chief financial officer owned 173,288 shares of the company’s stock, valued at $4,209,165.52. This represents a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wilfred T. Ogara sold 10,369 shares of the 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 completion of the sale, the director directly owned 103,686 shares of the company’s stock, valued at $2,497,795.74. The trade was a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 256,173 shares of company stock valued at $6,220,368 over the last 90 days. 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 the business. Northwestern Mutual Wealth Management Co. grew its holdings in 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 in the last quarter. Rockefeller Capital Management L.P. boosted its position in LSI Industries by 57.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock valued at $31,000 after buying an additional 625 shares during the last quarter. Strs Ohio purchased a new position in LSI Industries in the 1st quarter valued at about $34,000. New York State Teachers Retirement System acquired a new stake in shares of LSI Industries during the fourth quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of LSI Industries during the second quarter worth about $47,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

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.