Zacks Investment Research upgraded shares of LSI Industries Inc. (NASDAQ:LYTS) from a hold rating to a strong-buy rating in a research note released on Friday. The firm currently has $11.00 price target on the stock.
According to Zacks, “LSI Industries is an Image Solutions company, combining integrated design, manufacturing, & technology to supply its own high quality lighting fixtures and graphics elements for applications in the retail, specialty niche, & commercial markets. The Company’s Lighting Segment produces high performance products dedicated to the outdoor, architectural outdoor, indoor, architectural indoor and accent/downlight markets. The Graphics Segment provides a vast array of products and services including signage, menu board systems, active digital signage, decorative fixturing, design support, engineering & project management for custom programs for today’s retail environment. The Company’s Technology Segment develops and designs high performance light engines, digital signage and other products using LED lighting technology, including large format LED video screens for the entertainment & sports markets. LSI’s major markets are the petroleum convenience store multisite retail & the commercial industrial lighting markets. “
A number of other analysts have also recently commented on LYTS. Canaccord Genuity restated a buy rating on shares of LSI Industries in a research report on Wednesday, November 16th. Roth Capital set a $12.00 price objective on LSI Industries and gave the company a buy rating in a research report on Friday, October 28th.
Shares of LSI Industries (NASDAQ:LYTS) opened at 9.62 on Friday. The stock has a market cap of $243.51 million, a price-to-earnings ratio of 53.15 and a beta of 1.70. The company’s 50-day moving average price is $9.54 and its 200 day moving average price is $10.05. LSI Industries has a 12-month low of $8.12 and a 12-month high of $13.45.
LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. LSI Industries had a return on equity of 4.00% and a net margin of 1.49%. On average, equities analysts predict that LSI Industries will post $0.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, February 6th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, February 2nd. LSI Industries’s dividend payout ratio is presently 105.27%.
Several hedge funds have recently modified their holdings of LYTS. Chartwell Investment Partners LLC raised its stake in shares of LSI Industries by 12.2% in the third quarter. Chartwell Investment Partners LLC now owns 1,338,825 shares of the company’s stock worth $15,035,000 after buying an additional 145,989 shares in the last quarter. WealthTrust Axiom LLC raised its position in LSI Industries by 2.1% in the third quarter. WealthTrust Axiom LLC now owns 754,225 shares of the company’s stock worth $8,469,000 after buying an additional 15,857 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in LSI Industries by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 735,157 shares of the company’s stock worth $8,256,000 after buying an additional 3,588 shares during the period. BlackRock Fund Advisors raised its position in LSI Industries by 8.3% in the third quarter. BlackRock Fund Advisors now owns 663,074 shares of the company’s stock worth $7,446,000 after buying an additional 50,639 shares during the period. Finally, Northpointe Capital LLC raised its position in LSI Industries by 4.5% in the third quarter. Northpointe Capital LLC now owns 345,828 shares of the company’s stock worth $3,884,000 after buying an additional 14,813 shares during the period. 77.45% of the stock is currently owned by hedge funds and other institutional investors.
LSI Industries Company Profile
LSI Industries Inc is a provider of corporate visual image solutions to the petroleum/convenience store industry. The Company designs and develops aspects of the solid-state light emitting diode (LED) lighting, from the electronic circuit board, to the software to drive and control the LEDs, to the structure of the LED product.
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