#7 - LSI Industries (NASDAQ:LYTS)
LSI Industries Inc. (NASDAQ: LYTS) is one of the best-performing technology stocks in 2023. As of August 14, 2023, LYTS stock is up over 102% in the last 12 months.
That would lead many investors to speculate that the company has an artificial intelligence story. But it doesn’t. The company produces and sells non-residential lighting and retail display solutions. It’s about as far from AI as you can imagine.
In 2022, the company launched its REDiMount system that the company claims will be the new standard for canopy lighting solutions. And one of the applications that this system is used for is refueling/recharging stations.
And the company has strong financials. The company’s three-year revenue growth rate per share is 8.9% which is better than over 64% of its competition.
Analysts are forecasting that LSI Industries will post 22% earnings growth and give LSI stock a 39% upside from its current price.
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.
Read More - Current Price
- $18.77
- Consensus Rating
- Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $19.00 (1.2% Upside)
As is the case with any stock, past performance is not a guarantee of future returns. And stocks under $20 can be as volatile, if not more volatile, than stocks that trade for hundreds of dollars. That's why it's important to do your own research.
MarketBeat provides many free resources that can help investors find cheap stocks that are ready to produce outsized returns. One way is to look at the list of Best Stocks Under $20. This page provides a list of stocks with a share price of $20 or less that currently have “buy" and “strong buy" ratings from top-rated analysts. Another source is the MarketBeat stock screener which allows you to access customizable filters to fine tune your results based on your specific criteria.
And if one or more of these stocks makes it to your watchlist, MarketBeat gives you real-time updates for the news that impacts that stock. You'll never miss news that impacts the stock such as analyst upgrades/downgrades, SEC filings, and earnings reports.
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