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

LSI Industries Inc. (NASDAQ:LYTS) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.29 and last traded at $27.1750, with a volume of 50007 shares traded. The stock had previously closed at $25.99.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Oppenheimer initiated coverage on shares of LSI Industries in a research note on Tuesday, June 9th. They set an “outperform” rating and a $30.00 target price for the company. Weiss Ratings upgraded shares of LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen downgraded LSI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, LSI Industries currently has an average rating of “Moderate Buy” and a consensus target price of $28.75.

LSI Industries Stock Down 0.9%

The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $975.02 million, a PE ratio of 35.41 and a beta of 0.53. The business’s 50 day simple moving average is $23.85 and its 200 day simple moving average is $21.40.

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 return on equity of 8.90% and a net margin of 3.91%.The firm had revenue of $150.53 million during the quarter, compared to analyst estimates of $163.53 million. As a group, analysts forecast that LSI Industries Inc. will post 0.78 EPS for the current year.

LSI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Monday, May 4th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. LSI Industries’s dividend payout ratio (DPR) is currently 26.67%.

Insiders Place Their Bets

In other news, EVP Thomas A. Caneris sold 109,226 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $2,653,099.54. Following the completion of the sale, the executive vice president owned 64,790 shares of the company’s stock, valued at $1,573,749.10. This trade represents a 62.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was 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 directly owned 173,288 shares of the company’s stock, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its stake 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 acquiring an additional 1,031 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of LSI Industries by 57.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after purchasing an additional 625 shares in the last quarter. Strs Ohio purchased a new stake in shares of LSI Industries in the first quarter worth approximately $34,000. New York State Teachers Retirement System acquired a new stake in shares of LSI Industries during the fourth quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of LSI Industries during the second quarter worth approximately $47,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

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.