LSI Industries (NASDAQ:LYTS) Hits New 52-Week High – Still a Buy?

Shares of LSI Industries Inc. (NASDAQ:LYTS) hit a new 52-week high during trading on Thursday . The stock traded as high as $21.50 and last traded at $23.03, with a volume of 7374 shares traded. The stock had previously closed at $19.78.

Analyst Upgrades and Downgrades

LYTS has been the subject of a number of research reports. Canaccord Genuity Group lifted their price target on LSI Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright lifted their target price on LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday.

LSI Industries Stock Down 10.7 %

The stock’s fifty day simple moving average is $19.87 and its two-hundred day simple moving average is $17.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.08 and a quick ratio of 1.19. The company has a market capitalization of $658.87 million, a price-to-earnings ratio of 27.95 and a beta of 0.93.

LSI Industries (NASDAQ:LYTS) last released its quarterly earnings data on Thursday, January 23rd. The construction company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). LSI Industries had a return on equity of 11.71% and a net margin of 4.88%. On average, sell-side analysts predict that LSI Industries Inc. will post 0.86 earnings per share for the current fiscal year.

LSI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Monday, February 3rd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. LSI Industries’s dividend payout ratio is currently 25.32%.

Institutional Investors Weigh In On LSI Industries

Several large investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP raised its holdings in shares of LSI Industries by 7.1% during the third quarter. Systematic Financial Management LP now owns 2,439,120 shares of the construction company’s stock valued at $39,392,000 after buying an additional 162,160 shares during the last quarter. State Street Corp increased its position in LSI Industries by 1.1% in the 3rd quarter. State Street Corp now owns 574,275 shares of the construction company’s stock valued at $9,275,000 after acquiring an additional 6,098 shares during the period. Essex Investment Management Co. LLC raised its stake in LSI Industries by 0.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company’s stock valued at $4,948,000 after acquiring an additional 1,111 shares in the last quarter. Phocas Financial Corp. acquired a new position in LSI Industries during the 3rd quarter worth $3,682,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of LSI Industries by 0.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company’s stock worth $2,345,000 after purchasing an additional 494 shares in the last quarter. 73.91% of the stock is owned by institutional investors and hedge funds.

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.