LSI Industries (NASDAQ:LYTS) Sets New 12-Month High – Here’s Why

LSI Industries Inc. (NASDAQ:LYTS)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.50 and last traded at $23.03, with a volume of 7374 shares. The stock had previously closed at $19.78.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright lifted their price target on LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday.

LSI Industries Price Performance

The company has a market capitalization of $658.87 million, a PE ratio of 27.95 and a beta of 0.93. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average price is $19.87 and its 200-day moving average price is $17.40.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings results on Thursday, January 23rd. The construction company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). LSI Industries had a return on equity of 11.71% and a net margin of 4.88%. On average, sell-side analysts forecast that LSI Industries Inc. will post 0.86 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Monday, February 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.20 annualized dividend and a yield of 0.91%. LSI Industries’s dividend payout ratio is currently 25.32%.

Hedge Funds Weigh In On LSI Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Phocas Financial Corp. purchased a new stake in shares of LSI Industries during the third quarter worth about $3,682,000. Systematic Financial Management LP increased its holdings in LSI Industries by 7.1% during the 3rd quarter. Systematic Financial Management LP now owns 2,439,120 shares of the construction company’s stock worth $39,392,000 after purchasing an additional 162,160 shares during the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in shares of LSI Industries in the 3rd quarter valued at approximately $611,000. Barclays PLC boosted its stake in shares of LSI Industries by 117.1% during the 3rd quarter. Barclays PLC now owns 69,824 shares of the construction company’s stock valued at $1,127,000 after buying an additional 37,660 shares during the last quarter. Finally, Annex Advisory Services LLC grew its position in shares of LSI Industries by 28.7% during the fourth quarter. Annex Advisory Services LLC now owns 136,747 shares of the construction company’s stock worth $2,656,000 after buying an additional 30,464 shares in the last quarter. 73.91% of the stock is owned by institutional investors and hedge funds.

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.