LSI Industries (NASDAQ:LYTS) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of LSI Industries (NASDAQ:LYTS) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group boosted their price target on LSI Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of LSI Industries in a research report on Monday, December 29th. Wall Street Zen cut shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of LSI Industries in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.33.

LSI Industries Price Performance

NASDAQ LYTS opened at $22.30 on Wednesday. The firm’s fifty day simple moving average is $19.27 and its two-hundred day simple moving average is $20.44. The firm has a market capitalization of $693.31 million, a P/E ratio of 27.20 and a beta of 0.18. The company has a current ratio of 2.19, a quick ratio of 1.36 and a debt-to-equity ratio of 0.20. LSI Industries has a 12-month low of $13.77 and a 12-month high of $24.75.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings data on Thursday, January 22nd. The construction company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. LSI Industries had a return on equity of 11.10% and a net margin of 4.34%.The firm had revenue of $147.00 million during the quarter, compared to analysts’ expectations of $140.11 million. Analysts forecast that LSI Industries will post 0.7 EPS for the current fiscal year.

LSI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Monday, February 2nd will be paid a $0.05 dividend. The ex-dividend date is Monday, February 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. LSI Industries’s dividend payout ratio is presently 24.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LYTS. SG Americas Securities LLC acquired a new position in shares of LSI Industries in the 3rd quarter valued at about $849,000. Archon Capital Management LLC raised its position in LSI Industries by 67.8% during the second quarter. Archon Capital Management LLC now owns 284,872 shares of the construction company’s stock valued at $4,846,000 after acquiring an additional 115,124 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in LSI Industries during the second quarter valued at approximately $473,000. Corton Capital Inc. acquired a new position in LSI Industries in the second quarter valued at approximately $253,000. Finally, Aristides Capital LLC boosted its position in LSI Industries by 133.5% in the 2nd quarter. Aristides Capital LLC now owns 51,600 shares of the construction company’s stock worth $878,000 after purchasing an additional 29,500 shares in the last quarter. 73.91% of the stock is currently owned by institutional investors and hedge funds.

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.