Brokerages Set LSI Industries Inc. (NASDAQ:LYTS) Target Price at $28.75

LSI Industries Inc. (NASDAQ:LYTS) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $28.75.

A number of brokerages have recently commented on LYTS. Oppenheimer initiated coverage on shares of LSI Industries in a research note on Tuesday, June 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Weiss Ratings upgraded shares of LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th.

LSI Industries Stock Down 1.6%

LSI Industries stock opened at $24.77 on Tuesday. The business’s 50-day moving average price is $24.67 and its 200 day moving average price is $22.59. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The firm has a market cap of $909.31 million, a price-to-earnings ratio of 33.03 and a beta of 0.56. LSI Industries has a 52 week low of $17.20 and a 52 week high of $27.36.

Insider Transactions at LSI Industries

In other news, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the sale, the chief financial officer directly owned 173,288 shares in the company, valued at $4,209,165.52. This trade represents a 44.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas A. Caneris sold 109,226 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 64,790 shares of the company’s stock, valued at $1,573,749.10. The trade was a 62.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 256,173 shares of company stock valued at $6,220,368 in the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LSI Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. raised its position in LSI Industries by 40.7% during the first quarter. North Star Investment Management Corp. now owns 276,463 shares of the construction company’s stock worth $5,142,000 after acquiring an additional 80,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of LSI Industries in the first quarter valued at about $2,107,000. AltraVue Capital LLC increased its stake in shares of LSI Industries by 8.0% during the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock worth $26,488,000 after purchasing an additional 106,693 shares in the last quarter. Juniper Investment Company LLC increased its stake in shares of LSI Industries by 211.0% during the fourth quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock worth $6,256,000 after purchasing an additional 231,693 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of LSI Industries during the first quarter worth about $1,404,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

About LSI Industries

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.