HC Wainwright Reiterates Buy Rating for LSI Industries (NASDAQ:LYTS)

HC Wainwright reiterated their buy rating on shares of LSI Industries (NASDAQ:LYTS - Free Report) in a research report released on Friday morning,Benzinga reports. The firm currently has a $30.00 price objective on the construction company's stock.

A number of other research firms have also weighed in on LYTS. StockNews.com upgraded LSI Industries from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Canaccord Genuity Group reduced their price target on shares of LSI Industries from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Friday.

LSI Industries Price Performance

LSI Industries stock traded down $0.22 during midday trading on Friday, hitting $14.65. The company's stock had a trading volume of 244,532 shares, compared to its average volume of 131,524. LSI Industries has a 12 month low of $13.63 and a 12 month high of $25.50. The company has a quick ratio of 1.20, a current ratio of 2.08 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $438.34 million, a PE ratio of 19.03 and a beta of 0.70. The stock's 50-day moving average price is $16.94 and its 200-day moving average price is $18.59.

LSI Industries (NASDAQ:LYTS - Get Free Report) last released its earnings results on Thursday, April 24th. The construction company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $132.48 million for the quarter, compared to the consensus estimate of $129.72 million. LSI Industries had a net margin of 4.47% and a return on equity of 11.25%. Analysts anticipate that LSI Industries will post 0.7 earnings per share for the current fiscal year.

LSI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Monday, May 5th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, May 5th. LSI Industries's dividend payout ratio (DPR) is 27.78%.

Institutional Investors Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYTS. State Street Corp boosted its position in LSI Industries by 1.1% during the third quarter. State Street Corp now owns 574,275 shares of the construction company's stock valued at $9,275,000 after purchasing an additional 6,098 shares during the last quarter. Barclays PLC grew its stake in shares of LSI Industries by 117.1% in the 3rd quarter. Barclays PLC now owns 69,824 shares of the construction company's stock valued at $1,127,000 after buying an additional 37,660 shares in the last quarter. Fortitude Family Office LLC increased its holdings in LSI Industries by 1,559.9% in the fourth quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company's stock worth $62,000 after buying an additional 2,995 shares during the last quarter. Annex Advisory Services LLC raised its position in LSI Industries by 28.7% during the fourth quarter. Annex Advisory Services LLC now owns 136,747 shares of the construction company's stock valued at $2,656,000 after acquiring an additional 30,464 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in LSI Industries by 24.1% in the fourth quarter. SG Americas Securities LLC now owns 14,086 shares of the construction company's stock valued at $274,000 after acquiring an additional 2,731 shares during the last quarter. Hedge funds and other institutional investors own 73.91% of the company's stock.

LSI Industries Company Profile

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.