LSI Industries (NASDAQ:LYTS) Shares Gap Up – Here’s What Happened

LSI Industries Inc. (NASDAQ:LYTS) shares 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.

Analyst Ratings Changes

LYTS has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, January 24th. HC Wainwright lifted their price target on LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, January 24th.

LSI Industries Trading Down 0.4 %

The company has a market cap of $534.09 million, a price-to-earnings ratio of 23.18 and a beta of 1.00. The company has a current ratio of 2.08, a quick ratio of 1.20 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $19.41 and its 200-day moving average price is $18.56.

LSI Industries (NASDAQ:LYTS) last released its quarterly earnings results 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 net margin of 4.47% and a return on equity of 11.25%. On average, equities analysts anticipate that LSI Industries Inc. will post 0.7 EPS for the current fiscal year.

LSI Industries Announces Dividend

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

Hedge Funds Weigh In On LSI Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Systematic Financial Management LP boosted its holdings in LSI Industries by 4.3% in the 4th quarter. Systematic Financial Management LP now owns 2,542,844 shares of the construction company’s stock valued at $49,382,000 after purchasing an additional 103,724 shares during the period. WealthTrust Axiom LLC raised its holdings in LSI Industries by 1.1% in the 4th quarter. WealthTrust Axiom LLC now owns 696,685 shares of the construction company’s stock valued at $13,530,000 after acquiring an additional 7,647 shares in the last quarter. State Street Corp lifted its position in shares of LSI Industries by 1.1% during 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. G2 Investment Partners Management LLC grew its holdings in shares of LSI Industries by 1.4% during the 4th quarter. G2 Investment Partners Management LLC now owns 406,929 shares of the construction company’s stock worth $7,903,000 after purchasing an additional 5,470 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of LSI Industries by 0.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 333,753 shares of the construction company’s stock worth $6,481,000 after purchasing an additional 3,000 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.