LSI Industries (NASDAQ:LYTS) Shares Pass Above 200 Day Moving Average – Time to Sell?

LSI Industries Inc. (NASDAQ:LYTS)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.13 and traded as high as $23.90. LSI Industries shares last traded at $23.79, with a volume of 164,517 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on LYTS shares. Wall Street Zen cut LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Oppenheimer assumed coverage on shares of LSI Industries in a report on Tuesday, June 9th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.75.

LSI Industries Stock Performance

The stock has a market capitalization of $859.75 million, a P/E ratio of 31.23 and a beta of 0.53. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $24.58 and a two-hundred day simple moving average of $22.17.

LSI Industries (NASDAQ:LYTS) last issued its earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.34). The firm had revenue of $150.53 million for the quarter, compared to analyst estimates of $163.53 million. LSI Industries had a return on equity of 8.90% and a net margin of 3.91%. On average, equities analysts forecast that LSI Industries Inc. will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Thomas A. Caneris sold 109,226 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total transaction of $2,653,099.54. Following the transaction, the executive vice president directly owned 64,790 shares of the company’s stock, valued at approximately $1,573,749.10. The trade was a 62.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total value of $3,317,479.62. Following the sale, the chief financial officer directly owned 173,288 shares of the company’s stock, valued at $4,209,165.52. This represents a 44.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 256,173 shares of company stock worth $6,220,368. Company insiders own 7.30% of the company’s stock.

Institutional Trading of LSI Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP raised its holdings in LSI Industries by 1.2% in the 1st quarter. Quantinno Capital Management LP now owns 46,120 shares of the construction company’s stock valued at $858,000 after acquiring an additional 536 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of LSI Industries in the first quarter valued at approximately $1,404,000. Aristides Capital LLC grew its position in shares of LSI Industries by 96.6% in the first quarter. Aristides Capital LLC now owns 103,244 shares of the construction company’s stock valued at $1,920,000 after purchasing an additional 50,728 shares during the last quarter. Sei Investments Co. increased its stake in shares of LSI Industries by 259.7% during the first quarter. Sei Investments Co. now owns 264,336 shares of the construction company’s stock worth $4,917,000 after purchasing an additional 190,840 shares during the period. Finally, State of Wyoming lifted its holdings in LSI Industries by 58.3% during the 1st quarter. State of Wyoming now owns 10,500 shares of the construction company’s stock worth $195,000 after purchasing an additional 3,868 shares during the last quarter. Institutional investors own 73.91% of the company’s stock.

About LSI Industries

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.