LSI Industries (NASDAQ:LYTS) Stock Passes Above 200-Day Moving Average – What’s Next?

LSI Industries Inc. (NASDAQ:LYTS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.13 and traded as high as $23.90. LSI Industries shares last traded at $23.79, with a volume of 164,517 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LYTS shares. Zacks Research raised LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen downgraded LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Finally, Oppenheimer started coverage on LSI Industries in a report on Tuesday, June 9th. They issued an “outperform” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

LSI Industries Stock Performance

The company has a market cap of $873.33 million, a price-to-earnings ratio of 31.72 and a beta of 0.53. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $24.58 and its 200 day simple moving average is $22.13.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.34). The business had revenue of $150.53 million during the quarter, compared to analysts’ expectations of $163.53 million. LSI Industries had a return on equity of 8.90% and a net margin of 3.91%. As a group, analysts anticipate that LSI Industries Inc. will post 0.78 earnings per share for the current year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Monday, May 4th were given a dividend of $0.05 per share. The ex-dividend date was Monday, May 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. LSI Industries’s dividend payout ratio (DPR) is presently 26.67%.

Insider Buying and Selling

In other LSI Industries news, EVP Thomas A. Caneris sold 109,226 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $2,653,099.54. Following the completion of the sale, the executive vice president directly owned 64,790 shares of the company’s stock, valued at $1,573,749.10. This trade represents a 62.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $3,317,479.62. Following the completion of the sale, the chief financial officer directly owned 173,288 shares of the company’s stock, valued at $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 256,173 shares of company stock worth $6,220,368. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LSI Industries

A number of institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in LSI Industries by 70.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock valued at $13,604,000 after purchasing an additional 306,864 shares during the last quarter. Juniper Investment Company LLC increased its holdings in shares of LSI Industries by 211.0% during the 4th quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock worth $6,256,000 after buying an additional 231,693 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of LSI Industries by 163.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 339,495 shares of the construction company’s stock worth $8,015,000 after buying an additional 210,728 shares during the last quarter. Sei Investments Co. raised its position in shares of LSI Industries by 259.7% during the 1st quarter. Sei Investments Co. now owns 264,336 shares of the construction company’s stock valued at $4,917,000 after buying an additional 190,840 shares during the period. Finally, Royce & Associates LP raised its position in shares of LSI Industries by 16.4% during the 4th quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company’s stock valued at $22,284,000 after buying an additional 171,124 shares during the period. 73.91% of the stock is owned by hedge funds and other institutional investors.

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.