LSI Industries (NASDAQ:LYTS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LSI Industries (NASDAQ:LYTS) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on LYTS. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. HC Wainwright reissued a “buy” rating on shares of LSI Industries in a report on Friday, August 21st. Morgan Stanley set a $30.00 price target on LSI Industries in a report on Friday, August 21st. Finally, Oppenheimer reduced their price target on LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 21st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.00.

LSI Industries Trading Down 0.6%

LYTS opened at $20.96 on Friday. The firm’s fifty day moving average is $21.93 and its two-hundred day moving average is $22.42. The firm has a market cap of $780.97 million, a PE ratio of 31.28 and a beta of 0.52. LSI Industries has a twelve month low of $17.20 and a twelve month high of $27.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.97.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. LSI Industries had a net margin of 3.28% and a return on equity of 7.51%. The business had revenue of $234.62 million for the quarter, compared to analysts’ expectations of $222.78 million. Equities research analysts anticipate that LSI Industries will post 0.82 EPS for the current year.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, August 31st. LSI Industries’s payout ratio is presently 29.85%.

Insider Transactions at LSI Industries

In other news, Director Ernest W. Marshall, Jr. purchased 2,000 shares of LSI Industries stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $19.73 per share, for a total transaction of $39,460.00. Following the completion of the acquisition, the director owned 28,643 shares in the company, valued at approximately $565,126.39. This trade represents a 7.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Caneris sold 3,170 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total transaction of $64,287.60. Following the sale, the executive vice president directly owned 73,109 shares in the company, valued at $1,482,650.52. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 96,345 shares of company stock worth $1,928,267. 7.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LSI Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in LSI Industries in the second quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of LSI Industries during the second quarter valued at approximately $41,000. PenderFund Capital Management Ltd. acquired a new position in shares of LSI Industries during the second quarter worth approximately $41,000. Rockefeller Capital Management L.P. raised its position in shares of LSI Industries by 57.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after purchasing an additional 625 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of LSI Industries in the 2nd quarter worth $59,000. Institutional investors own 73.91% of the company’s stock.

About LSI Industries

LSI Industries Inc (NASDAQ: LYTS) is a designer and manufacturer of commercial lighting, digital displays, and related visual communication solutions. The company serves businesses and organizations that need integrated lighting, signage, and brand presentation systems for indoor and outdoor environments.

LSI’s lighting products include LED fixtures, lighting controls, and specialized systems for applications such as retail stores, commercial and industrial facilities, sports venues, educational institutions, and outdoor spaces.