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

LSI Industries (NASDAQ:LYTS) had its target price hoisted by Canaccord Genuity Group from $17.00 to $18.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

LYTS has been the topic of several other research reports. HC Wainwright reiterated a buy rating and set a $20.00 target price on shares of LSI Industries in a report on Monday, April 22nd. StockNews.com upgraded LSI Industries from a buy rating to a strong-buy rating in a report on Saturday, February 3rd.

LSI Industries Stock Performance

Shares of LSI Industries stock opened at $14.77 on Friday. The firm has a market cap of $429.36 million, a price-to-earnings ratio of 15.88 and a beta of 0.85. The stock’s 50-day moving average is $14.59 and its 200-day moving average is $14.11. LSI Industries has a one year low of $11.44 and a one year high of $16.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.16 and a quick ratio of 1.24.

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

LSI Industries Dividend Announcement

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

Hedge Funds Weigh In On LSI Industries

A number of institutional investors have recently bought and sold shares of LYTS. Bank of New York Mellon Corp increased its position in LSI Industries by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 281,795 shares of the construction company’s stock worth $4,475,000 after buying an additional 2,146 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in LSI Industries during the third quarter worth approximately $247,000. Arete Wealth Advisors LLC acquired a new position in LSI Industries during the third quarter worth approximately $364,000. Los Angeles Capital Management LLC acquired a new position in LSI Industries during the third quarter worth approximately $1,073,000. Finally, Jump Financial LLC increased its position in LSI Industries by 6.2% during the third quarter. Jump Financial LLC now owns 29,000 shares of the construction company’s stock worth $461,000 after buying an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.

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.