LSI Industries (NASDAQ:LYTS) Sees Unusually-High Trading Volume – Here’s Why

Shares of LSI Industries Inc. (NASDAQ:LYTS) saw unusually-high trading volume on Friday . Approximately 1,011,662 shares changed hands during trading, an increase of 466% from the previous session’s volume of 178,706 shares.The stock last traded at $21.7380 and had previously closed at $20.92.

Analyst Upgrades and Downgrades

LYTS has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on shares of LSI Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Zacks Research downgraded LSI Industries from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of LSI Industries in a report on Tuesday, January 27th. Wall Street Zen raised LSI Industries from a “hold” rating to a “buy” rating in a research note on Sunday, February 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LSI Industries in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.33.

LSI Industries Trading Up 3.3%

The stock has a fifty day simple moving average of $20.78 and a 200 day simple moving average of $21.06. The firm has a market capitalization of $673.03 million, a P/E ratio of 26.37 and a beta of 0.20. The company has a quick ratio of 1.21, a current ratio of 2.15 and a debt-to-equity ratio of 0.11.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, January 22nd. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. LSI Industries had a return on equity of 10.90% and a net margin of 4.34%.The firm had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $140.11 million. As a group, research analysts forecast that LSI Industries Inc. will post 0.7 EPS for the current year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Monday, February 2nd were given a dividend of $0.05 per share. The ex-dividend date was Monday, February 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. LSI Industries’s dividend payout ratio (DPR) is presently 24.39%.

Hedge Funds Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in LSI Industries by 205.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company’s stock valued at $28,000 after acquiring an additional 1,031 shares during the last quarter. Strs Ohio purchased a new position in shares of LSI Industries during the first quarter valued at about $34,000. New York State Teachers Retirement System bought a new stake in shares of LSI Industries in the fourth quarter worth about $36,000. State of Alaska Department of Revenue purchased a new stake in shares of LSI Industries in the third quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of LSI Industries in the second quarter worth about $47,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Company Profile

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.