Systematic Financial Management L recently announced the acquisition of new stake in LSI Industries Inc. (NASDAQ:LYTS). The institutional investor has increased its shareholding in the Technology company by 3.43% to 2.2 million shares with purchase of 73144.0 shares. This fresh investment now brings its stake to 7.93% valued currently at $26.97 million. In addition, Dimensional Fund Advisors LP raised its holdings by 39396.0 to 1.67 million shares. And WealthTrust Axiom LLC has lifted its position by 1.06% or 10710.0 shares – to 1.02 million shares.
With over 0.32 million LSI Industries Inc. (LYTS) shares trading Friday and a closing price of $13.49 on the day, the dollar volume was approximately $4.33 million. The shares have shown a positive half year performance of 127.87% and its price on 01/13/23 gained nearly 1.97%. Currently, there are 27.64M common shares owned by the public and among those 24.33M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for LYTS have a consensus price objective of $15.50. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $12.00. The average price target is 5.33% above its recent price level and a downside to the estimated low will see the stock lose -12.42% over that period. But an upside of 25.06% will see the stock hit the forecast high price target while median target price for the stock is $16.50.
Insiders at the company have transacted a total of 110 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 99 of these insider trades were purchases, accounting for 351,387 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 58,576 shares.
The top 3 mutual fund holders in LSI Industries Inc. are Vanguard Total Stock Market Index, Royce Value Trust, and Northern Lights Fund Trust II – N. Vanguard Total Stock Market Index owns 0.78 million shares of the company’s stock, all valued at over $9.51 million. Northern Lights Fund Trust II – N now owns shares totaling to 1.51% of the shares outstanding.
Shares of LSI Industries Inc. (NASDAQ: LYTS) opened at $13.24, up $0.01 from a prior closing price of $13.23. However, the script later moved the day high at 13.57, up 1.97%. The company’s stock has a 5-day price change of 7.58% and 65.32% over the past three months. LYTS shares are trading 10.21% year to date (YTD), with the 12-month market performance up to 106.90% higher. It has a 12-month low price of $5.41 and touched a high of $13.30 over the same period. LYTS has an average intraday trading volume of 151.81K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.31%, 18.65%, and 69.33% respectively.
Institutional ownership of LSI Industries Inc. (NASDAQ: LYTS) shares accounts for 61.20% of the company’s 27.64M shares outstanding. Mutual fund holders own 25.17%, while other institutional holders and individual stakeholders account for 35.78% and 17.51% respectively.
It has a market capitalization of $367.47M and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 21.01, while the earnings-per-share (ttm) stands at $0.64. The company has a PEG of 0.84 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 0.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.33% over the week and 3.82% over the month.
Analysts forecast that LSI Industries Inc. (LYTS) will achieve an EPS of $0.17 for the current quarter, $0.12 for the next quarter and $0.73 for 2024. The lowest estimate earnings-per-share for the quarter is $0.17 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 151.10%, and 6.06% over the next financial year. EPS should shrink at an annualized rate of 25.00% over the next five years, compared to 36.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate LSI Industries Inc. (LYTS) as a “Strong Buy” at a consensus score of 1.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LYTS, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on January 09, 2023, with the firm’s price target at $18. Canaccord Genuity coverage for the LSI Industries Inc. (LYTS) stock in a research note released on October 21, 2022 offered a Buy rating with a price target of $9. Canaccord Genuity was of a view on November 09, 2021 that the stock is Buy, while ROTH Capital gave the stock Buy rating on January 22, 2021, issuing a price target of $7- $13. H.C. Wainwright on their part issued Buy rating on January 22, 2021.
