HC Wainwright Forecasts Strong Price Appreciation for LSI Industries (NASDAQ:LYTS) Stock

LSI Industries (NASDAQ:LYTS) had its price target raised by stock analysts at HC Wainwright from $20.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. HC Wainwright’s target price would indicate a potential upside of 35.87% from the stock’s current price.

LSI Industries Stock Performance

NASDAQ LYTS opened at $22.08 on Friday. The company has a 50-day simple moving average of $19.87 and a two-hundred day simple moving average of $17.42. LSI Industries has a 12-month low of $13.35 and a 12-month high of $25.50. The firm 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 (NASDAQ:LYTS) last issued its 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 4.88% and a return on equity of 11.71%. On average, equities analysts forecast that LSI Industries will post 0.86 EPS for the current year.

Institutional Investors Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of LSI Industries in the third quarter valued at about $39,000. Fortitude Family Office LLC grew its stake in shares of LSI Industries by 1,559.9% in the fourth quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock worth $62,000 after purchasing an additional 2,995 shares during the last quarter. SG Americas Securities LLC purchased a new position in LSI Industries during the 3rd quarter valued at about $183,000. Squarepoint Ops LLC purchased a new position in LSI Industries during the 2nd quarter valued at about $191,000. Finally, Y Intercept Hong Kong Ltd bought a new position in LSI Industries during the 3rd quarter valued at approximately $205,000. 73.91% of the stock is currently 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.