LSI Industries’ (LYTS) “Buy” Rating Reaffirmed at HC Wainwright

by · The Markets Daily

LSI Industries (NASDAQ:LYTS – Get Free Report)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $30.00 price target on the construction company’s stock. HC Wainwright’s price target indicates a potential upside of 43.27% from the stock’s previous close.

Several other research analysts also recently commented on LYTS. Morgan Stanley set a $30.00 price objective on shares of LSI Industries in a report on Friday, August 21st. Weiss Ratings downgraded LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Oppenheimer reduced their target price on LSI Industries from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, August 21st. Finally, Wall Street Zen raised LSI Industries from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, LSI Industries currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

View Our Latest Analysis on LSI Industries

LSI Industries Trading Up 0.9%

Shares of LYTS stock opened at $20.94 on Friday. The firm has a market capitalization of $780.22 million, a PE ratio of 31.25 and a beta of 0.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.97 and a quick ratio of 1.22. The business’s fifty day moving average price is $21.76 and its 200 day moving average price is $22.45. LSI Industries has a 1-year low of $17.20 and a 1-year high of $27.36.

LSI Industries (NASDAQ:LYTS – Get Free Report) last released its earnings results on Thursday, August 20th. The construction company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $234.62 million for the quarter, compared to the consensus estimate of $222.78 million. LSI Industries had a return on equity of 7.51% and a net margin of 3.28%. As a group, sell-side analysts forecast that LSI Industries will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at LSI Industries

In other news, CEO James Clark sold 23,706 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $20.09, for a total transaction of $476,253.54. Following the completion of the transaction, the chief executive officer directly owned 609,641 shares in the company, valued at approximately $12,247,687.69. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James E. Galeese sold 8,269 shares of LSI Industries stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $20.09, for a total value of $166,124.21. Following the completion of the sale, the chief financial officer owned 190,740 shares in the company, valued at approximately $3,831,966.60. This trade represents a 4.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 96,345 shares of company stock valued at $1,928,267. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LYTS. BlackRock Inc. acquired a new stake in LSI Industries during the 2nd quarter valued at approximately $72,118,000. Bank of New York Mellon Corp bought a new stake in LSI Industries during the 2nd quarter worth approximately $6,232,000. Juniper Investment Company LLC boosted its position in shares of LSI Industries by 211.0% in the 4th quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock worth $6,256,000 after purchasing an additional 231,693 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of LSI Industries in the 2nd quarter valued at about $5,324,000. Finally, Globeflex Capital L P bought a new stake in shares of LSI Industries in the second quarter valued at approximately $5,194,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

About LSI Industries

(Get Free Report)

LSI Industries Inc (NASDAQ: LYTS) is a designer and manufacturer of commercial lighting, digital displays, and related visual communication solutions. The company serves businesses and organizations that need integrated lighting, signage, and brand presentation systems for indoor and outdoor environments.

LSI’s lighting products include LED fixtures, lighting controls, and specialized systems for applications such as retail stores, commercial and industrial facilities, sports venues, educational institutions, and outdoor spaces.

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