LSI Industries (NASDAQ:LYTS) Price Target Raised to $26.00

LSI Industries (NASDAQ:LYTS) had its target price upped by equities researchers at Canaccord Genuity Group from $22.00 to $26.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 17.75% from the company’s previous close.

Separately, HC Wainwright raised their price objective on LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday.

LSI Industries Stock Performance

LYTS stock traded down $2.64 on Friday, reaching $22.08. The company’s stock had a trading volume of 535,183 shares, compared to its average volume of 188,420. The firm has a fifty day moving average of $19.74 and a two-hundred day moving average of $17.29. 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 P/E ratio of 27.95 and a beta of 0.93. LSI Industries has a 52 week low of $13.35 and a 52 week high of $25.50.

LSI Industries (NASDAQ:LYTS) last released its earnings results 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 4.88% and a return on equity of 11.71%. As a group, analysts predict that LSI Industries will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LYTS. Connor Clark & Lunn Investment Management Ltd. boosted its stake in LSI Industries by 0.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company’s stock worth $2,345,000 after acquiring an additional 494 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of LSI Industries by 0.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 85,140 shares of the construction company’s stock valued at $1,375,000 after buying an additional 740 shares in the last quarter. Martingale Asset Management L P lifted its holdings in LSI Industries by 1.4% during the third quarter. Martingale Asset Management L P now owns 82,256 shares of the construction company’s stock worth $1,328,000 after acquiring an additional 1,102 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of LSI Industries by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company’s stock worth $4,948,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of LSI Industries by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 46,911 shares of the construction company’s stock worth $758,000 after purchasing an additional 1,535 shares during the period. 73.91% of the stock is currently 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.