Canaccord Genuity Group Raises LSI Industries (NASDAQ:LYTS) Price Target to $26.00

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

Separately, HC Wainwright increased their price target on LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday.

LSI Industries Stock Performance

Shares of LYTS stock opened at $22.08 on Friday. The firm has a 50 day moving average of $19.87 and a 200-day moving average of $17.42. The company has a market cap of $658.87 million, a price-to-earnings ratio of 27.95 and a beta of 0.93. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.21. LSI Industries has a 52 week low of $13.35 and a 52 week high of $25.50.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings results on Thursday, January 23rd. The construction company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.71% and a net margin of 4.88%. On average, equities analysts forecast that LSI Industries will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On LSI Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Systematic Financial Management LP lifted its position in LSI Industries by 7.1% in the 3rd quarter. Systematic Financial Management LP now owns 2,439,120 shares of the construction company’s stock valued at $39,392,000 after acquiring an additional 162,160 shares in the last quarter. State Street Corp lifted its holdings in shares of LSI Industries by 1.1% in the third quarter. State Street Corp now owns 574,275 shares of the construction company’s stock valued at $9,275,000 after purchasing an additional 6,098 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of LSI Industries by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 306,397 shares of the construction company’s stock valued at $4,948,000 after buying an additional 1,111 shares during the last quarter. Phocas Financial Corp. bought a new stake in LSI Industries during the third quarter worth $3,682,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in LSI Industries by 0.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,171 shares of the construction company’s stock valued at $2,345,000 after buying an additional 494 shares during the last quarter. 73.91% of the stock is owned by institutional investors.

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.