LSI Industries (NASDAQ:LYTS) Issues Earnings Results

LSI Industries (NASDAQ:LYTS) posted its quarterly earnings results on Thursday. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01, Zacks reports. LSI Industries had a return on equity of 11.07% and a net margin of 4.25%.The business had revenue of $157.25 million for the quarter, compared to the consensus estimate of $149.48 million.

LSI Industries Price Performance

LYTS traded down $1.21 during trading on Friday, hitting $19.44. The company’s stock had a trading volume of 308,575 shares, compared to its average volume of 155,130. The firm has a market capitalization of $594.24 million, a price-to-earnings ratio of 24.61 and a beta of 0.25. LSI Industries has a twelve month low of $13.77 and a twelve month high of $25.50. The business’s fifty day simple moving average is $22.88 and its 200 day simple moving average is $19.32. The company has a current ratio of 1.99, a quick ratio of 1.17 and a debt-to-equity ratio of 0.19.

LSI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Monday, November 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. LSI Industries’s dividend payout ratio is currently 25.00%.

Insider Buying and Selling

In other LSI Industries news, VP Thomas A. Caneris sold 7,544 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total transaction of $174,115.52. Following the transaction, the vice president directly owned 114,016 shares of the company’s stock, valued at $2,631,489.28. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Anthony Clark sold 26,597 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total transaction of $613,858.76. Following the sale, the chief executive officer directly owned 421,313 shares of the company’s stock, valued at $9,723,904.04. This represents a 5.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 94,780 shares of company stock valued at $2,198,983. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LYTS. AQR Capital Management LLC boosted its stake in LSI Industries by 26.7% during the 1st quarter. AQR Capital Management LLC now owns 61,107 shares of the construction company’s stock worth $1,039,000 after purchasing an additional 12,876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of LSI Industries by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,165 shares of the construction company’s stock worth $292,000 after buying an additional 1,113 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of LSI Industries in the first quarter worth about $560,000. Strs Ohio purchased a new stake in LSI Industries during the 1st quarter valued at about $34,000. Finally, Quantbot Technologies LP lifted its stake in LSI Industries by 133.3% in the 2nd quarter. Quantbot Technologies LP now owns 5,611 shares of the construction company’s stock worth $95,000 after purchasing an additional 3,206 shares in the last quarter. 73.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of LSI Industries from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 24th. Canaccord Genuity Group raised their target price on shares of LSI Industries from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Weiss Ratings raised shares of LSI Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Craig Hallum reiterated a “buy” rating and set a $28.00 price objective on shares of LSI Industries in a research note on Friday, August 22nd. Finally, Zacks Research upgraded LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, LSI Industries has a consensus rating of “Moderate Buy” and an average target price of $27.67.

About LSI Industries

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.