LSI Industries (NASDAQ:LYTS) Trading Up 12.7% Following Earnings Beat

LSI Industries Inc. (NASDAQ:LYTS)’s stock price was up 12.7% on Friday following a stronger than expected earnings report. The company traded as high as $22.83 and last traded at $22.99. Approximately 95,872 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 139,479 shares. The stock had previously closed at $20.40.

The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.17 by $0.09. LSI Industries had a return on equity of 11.25% and a net margin of 4.25%.The company had revenue of $155.07 million during the quarter, compared to analyst estimates of $138.89 million.

LSI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, September 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. LSI Industries’s payout ratio is presently 27.78%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of LSI Industries in a report on Friday, April 25th. Wall Street Zen lowered LSI Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 16th. Finally, Canaccord Genuity Group cut their price target on LSI Industries from $26.00 to $22.00 and set a “buy” rating for the company in a report on Friday, April 25th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LSI Industries currently has an average rating of “Buy” and an average target price of $26.00.

Hedge Funds Weigh In On LSI Industries

Several large investors have recently made changes to their positions in LYTS. Strs Ohio purchased a new position in shares of LSI Industries in the first quarter valued at about $34,000. Russell Investments Group Ltd. lifted its position in shares of LSI Industries by 894.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,099 shares of the construction company’s stock valued at $41,000 after acquiring an additional 1,888 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of LSI Industries in the fourth quarter valued at about $46,000. EverSource Wealth Advisors LLC purchased a new position in shares of LSI Industries in the second quarter valued at about $47,000. Finally, BNP Paribas Financial Markets lifted its position in shares of LSI Industries by 22.0% in the second quarter. BNP Paribas Financial Markets now owns 4,077 shares of the construction company’s stock valued at $69,000 after acquiring an additional 736 shares in the last quarter. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

LSI Industries Stock Up 16.0%

The company has a 50-day moving average price of $17.98 and a 200 day moving average price of $17.38. The firm has a market capitalization of $707.91 million, a PE ratio of 29.95 and a beta of 0.32. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.08 and a quick ratio of 1.25.

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.