LSI Industries (NASDAQ:LYTS) Price Target Raised to $18.00 at Canaccord Genuity Group

LSI Industries (NASDAQ:LYTS) had its price objective hoisted by Canaccord Genuity Group from $17.00 to $18.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

LYTS has been the subject of a number of other reports. StockNews.com raised shares of LSI Industries from a buy rating to a strong-buy rating in a report on Saturday, February 3rd. HC Wainwright reissued a buy rating and issued a $20.00 price target on shares of LSI Industries in a report on Monday, April 22nd.

LSI Industries Price Performance

NASDAQ LYTS opened at $14.77 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.24 and a debt-to-equity ratio of 0.10. LSI Industries has a 1 year low of $11.44 and a 1 year high of $16.97. The company has a fifty day simple moving average of $14.59 and a 200 day simple moving average of $14.15. The company has a market cap of $429.36 million, a P/E ratio of 15.88 and a beta of 0.85.

LSI Industries (NASDAQ:LYTS) last issued its quarterly earnings results on Thursday, January 25th. The construction company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.13. LSI Industries had a net margin of 5.97% and a return on equity of 14.93%. The firm had revenue of $109.01 million during the quarter, compared to the consensus estimate of $107.70 million. On average, sell-side analysts predict that LSI Industries will post 0.89 EPS for the current year.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, May 3rd. LSI Industries’s payout ratio is 21.51%.

Hedge Funds Weigh In On LSI Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legato Capital Management LLC lifted its holdings in shares of LSI Industries by 37.9% during the 4th quarter. Legato Capital Management LLC now owns 376,457 shares of the construction company’s stock worth $5,301,000 after acquiring an additional 103,480 shares during the period. New York State Common Retirement Fund increased its position in shares of LSI Industries by 1,506.6% during the 3rd quarter. New York State Common Retirement Fund now owns 163,873 shares of the construction company’s stock worth $2,602,000 after purchasing an additional 153,673 shares in the last quarter. Trexquant Investment LP increased its position in shares of LSI Industries by 115.0% during the 3rd quarter. Trexquant Investment LP now owns 30,273 shares of the construction company’s stock worth $481,000 after purchasing an additional 16,194 shares in the last quarter. Citigroup Inc. increased its position in shares of LSI Industries by 66.6% during the 3rd quarter. Citigroup Inc. now owns 29,349 shares of the construction company’s stock worth $466,000 after purchasing an additional 11,731 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of LSI Industries during the 3rd quarter worth about $1,073,000. 73.91% of the stock is owned by institutional investors.

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.