LSI Industries (NASDAQ:LYTS) Shares Gap Up – Should You Buy?

LSI Industries Inc. (NASDAQ:LYTS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.92, but opened at $18.32. LSI Industries shares last traded at $17.62, with a volume of 45,304 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYTS. HC Wainwright lifted their price objective on shares of LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Canaccord Genuity Group lifted their price target on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

LSI Industries Price Performance

The stock has a market cap of $534.09 million, a P/E ratio of 23.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.08 and a quick ratio of 1.20. The business’s fifty day moving average price is $19.41 and its 200 day moving average price is $18.56.

LSI Industries (NASDAQ:LYTS) last issued its quarterly earnings data on Thursday, January 23rd. The construction company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). LSI Industries had a net margin of 4.47% and a return on equity of 11.25%. Sell-side analysts forecast that LSI Industries Inc. will post 0.7 EPS for the current fiscal year.

LSI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Monday, February 3rd were issued a $0.05 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 1.12%. LSI Industries’s payout ratio is presently 25.97%.

Institutional Trading of LSI Industries

Hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in LSI Industries in the 3rd quarter valued at approximately $39,000. Russell Investments Group Ltd. raised its stake in shares of LSI Industries by 894.8% during 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 during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of LSI Industries during the fourth quarter worth $46,000. Fortitude Family Office LLC grew its stake in shares of LSI Industries by 1,559.9% in the fourth quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock worth $62,000 after purchasing an additional 2,995 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in LSI Industries by 777.3% in the fourth quarter. Quantbot Technologies LP now owns 3,632 shares of the construction company’s stock valued at $71,000 after purchasing an additional 3,218 shares during the period. 73.91% of the stock is owned by institutional investors and hedge funds.

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.