Short Interest in LSI Industries Inc. (NASDAQ:LYTS) Drops By 21.5%

LSI Industries Inc. (NASDAQ:LYTS) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 509,800 shares, a drop of 21.5% from the May 15th total of 649,500 shares. Based on an average daily volume of 92,500 shares, the days-to-cover ratio is currently 5.5 days. Approximately 2.0% of the shares of the company are sold short.

LSI Industries Stock Down 1.7 %

Shares of NASDAQ:LYTS traded down $0.26 during trading on Friday, reaching $14.63. 85,380 shares of the stock were exchanged, compared to its average volume of 96,772. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.17 and a quick ratio of 1.25. LSI Industries has a 1-year low of $11.44 and a 1-year high of $16.97. The stock has a fifty day moving average of $15.19 and a two-hundred day moving average of $14.49. The firm has a market cap of $426.17 million, a price-to-earnings ratio of 15.73 and a beta of 0.86.

LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings data on Thursday, April 25th. The construction company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $108.19 million during the quarter, compared to the consensus estimate of $105.71 million. LSI Industries had a return on equity of 14.68% and a net margin of 5.97%. Research analysts anticipate that LSI Industries will post 0.82 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Monday, May 6th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.20 annualized dividend and a dividend yield of 1.37%. LSI Industries’s payout ratio is currently 21.51%.

Hedge Funds Weigh In On LSI Industries

A number of large investors have recently modified their holdings of LYTS. Price T Rowe Associates Inc. MD grew its position in shares of LSI Industries by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,770 shares of the construction company’s stock worth $345,000 after buying an additional 993 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of LSI Industries by 8.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 24,122 shares of the construction company’s stock worth $383,000 after purchasing an additional 1,944 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in LSI Industries during the fourth quarter valued at $35,000. Swiss National Bank increased its position in LSI Industries by 6.4% during the first quarter. Swiss National Bank now owns 51,400 shares of the construction company’s stock valued at $777,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in LSI Industries by 9.0% during the first quarter. Janney Montgomery Scott LLC now owns 43,879 shares of the construction company’s stock valued at $663,000 after acquiring an additional 3,614 shares during the last quarter. 73.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group lifted their target price on LSI Industries from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, April 26th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of LSI Industries in a research note on Monday, April 22nd.

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.