Key Points
- LSI Industries director Ernest Marshall Jr. bought 2,000 shares at an average price of $19.73, increasing his stake by 7.51% to 28,643 shares.
- LYTS shares opened at $19.59 after falling 3.7%; the stock has traded between $17.20 and $27.36 over the past year. The company recently beat quarterly earnings and revenue estimates, reporting EPS of $0.38 and revenue of $234.62 million.
- Analysts maintain a “Moderate Buy” consensus with a $29 average price target, while LSI declared a quarterly dividend of $0.05 per share, representing a 1.0% annualized yield.
LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) Director Ernest Marshall, Jr. purchased 2,000 shares of the firm's stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $19.73 per share, with a total value of $39,460.00. Following the completion of the purchase, the director owned 28,643 shares in the company, valued at $565,126.39. This represents a 7.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
LSI Industries Stock Down 3.7%
Shares of LYTS stock opened at $19.59 on Tuesday. LSI Industries Inc. has a 1 year low of $17.20 and a 1 year high of $27.36. The stock has a market cap of $719.19 million, a PE ratio of 29.24 and a beta of 0.56. The business's fifty day moving average is $24.48 and its 200-day moving average is $22.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48.
LSI Industries (NASDAQ:LYTS - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $234.62 million during the quarter, compared to analyst estimates of $222.78 million. LSI Industries had a return on equity of 8.04% and a net margin of 3.28%. Equities analysts expect that LSI Industries Inc. will post 1.18 earnings per share for the current fiscal year.
LSI Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st will be given a $0.05 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.20 annualized dividend and a yield of 1.0%. LSI Industries's payout ratio is 29.85%.
Hedge Funds Weigh In On LSI Industries
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new position in LSI Industries in the 2nd quarter worth about $31,000. Northwestern Mutual Wealth Management Co. purchased a new stake in LSI Industries during the second quarter valued at about $41,000. PenderFund Capital Management Ltd. purchased a new stake in LSI Industries during the second quarter valued at about $41,000. Rockefeller Capital Management L.P. lifted its stake in LSI Industries by 57.4% during the fourth 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 in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in shares of LSI Industries in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 73.91% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on LYTS. Oppenheimer reduced their price objective on shares of LSI Industries from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday. HC Wainwright reiterated a "buy" rating on shares of LSI Industries in a report on Friday. Wall Street Zen lowered shares of LSI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Morgan Stanley set a $30.00 target price on shares of LSI Industries in a report on Friday. Finally, Weiss Ratings lowered shares of LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.00.
View Our Latest Stock Analysis on LYTS
About LSI Industries
(
Get Free Report)
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.
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