Canaccord Genuity Group Boosts LSI Industries (NASDAQ:LYTS) Price Target to $18.00

LSI Industries (NASDAQ:LYTS) had its target price raised by analysts at Canaccord Genuity Group from $17.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 18.58% from the stock’s previous close.

LYTS has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of LSI Industries in a report on Monday. StockNews.com upgraded LSI Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 3rd.

LSI Industries Price Performance

LYTS opened at $15.18 on Friday. The stock has a fifty day simple moving average of $14.57 and a two-hundred day simple moving average of $14.16. The company has a current ratio of 2.16, a quick ratio of 1.24 and a debt-to-equity ratio of 0.10. The company has a market cap of $441.28 million, a price-to-earnings ratio of 16.68 and a beta of 0.85. LSI Industries has a 12-month low of $11.44 and a 12-month high of $16.97.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings data on Thursday, January 25th. The construction company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.13. The business had revenue of $109.01 million during the quarter, compared to the consensus estimate of $107.70 million. LSI Industries had a return on equity of 14.91% and a net margin of 5.71%. Research analysts predict that LSI Industries will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LSI Industries

Several institutional investors have recently modified their holdings of LYTS. Bank of New York Mellon Corp boosted its position in LSI Industries by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 281,795 shares of the construction company’s stock worth $4,475,000 after purchasing an additional 2,146 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in LSI Industries in the third quarter worth about $247,000. Arete Wealth Advisors LLC purchased a new position in LSI Industries in the third quarter worth about $364,000. Los Angeles Capital Management LLC purchased a new position in LSI Industries in the third quarter worth about $1,073,000. Finally, Jump Financial LLC boosted its position in LSI Industries by 6.2% in the third quarter. Jump Financial LLC now owns 29,000 shares of the construction company’s stock worth $461,000 after purchasing an additional 1,700 shares during the last quarter. 73.91% of the stock is owned by hedge funds and other institutional investors.

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.