LSI Industries (NASDAQ:LYTS) Stock Rating Lowered by Wall Street Zen

LSI Industries (NASDAQ:LYTS) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently issued reports on LYTS. Weiss Ratings downgraded shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 30th. Oppenheimer lowered their price objective on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of LSI Industries in a report on Friday, October 2nd. Finally, Morgan Stanley set a $30.00 target price on shares of LSI Industries in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, LSI Industries presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

LSI Industries Price Performance

Shares of NASDAQ:LYTS opened at $17.20 on Friday. The company has a market capitalization of $641.73 million, a price-to-earnings ratio of 27.30 and a beta of 0.54. LSI Industries has a 12-month low of $16.83 and a 12-month high of $27.36. The business has a 50-day moving average price of $20.25 and a 200 day moving average price of $21.99. The company has a current ratio of 1.97, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68.

LSI Industries (NASDAQ:LYTS) last posted its earnings results on Thursday, November 5th. The construction company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12). The company had revenue of $225.85 million during the quarter, compared to analyst estimates of $225.00 million. LSI Industries had a net margin of 2.96% and a return on equity of 7.00%. Sell-side analysts expect that LSI Industries will post 0.82 EPS for the current year.

Insider Transactions at LSI Industries

In other LSI Industries news, CFO James Galeese sold 8,269 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $20.09, for a total transaction of $166,124.21. Following the sale, the chief financial officer directly owned 190,740 shares in the company, valued at $3,831,966.60. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ernest W. Marshall, Jr. purchased 2,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were acquired at an average price of $19.73 per share, for a total transaction of $39,460.00. Following the completion of the purchase, the director directly owned 28,643 shares of the company’s stock, valued at approximately $565,126.39. This trade represents a 7.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 96,345 shares of company stock valued at $1,928,267. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On LSI Industries

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in LSI Industries in the 2nd quarter valued at about $72,118,000. Wellington Management Group LLP boosted its stake in shares of LSI Industries by 5.4% in the 2nd quarter. Wellington Management Group LLP now owns 1,372,841 shares of the construction company’s stock valued at $36,490,000 after buying an additional 70,033 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of LSI Industries by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company’s stock valued at $27,232,000 after buying an additional 6,783 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of LSI Industries in the 2nd quarter valued at about $6,232,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of LSI Industries during the second quarter worth about $5,324,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

More LSI Industries News

Here are the key news stories impacting LSI Industries this week:

• Positive Sentiment: Revenue was about $225.9 million, just above the roughly $225.0 million analyst estimate. A separate earnings flash put adjusted EPS at $0.31, matching FactSet’s estimate. Revenue and adjusted EPS results
• Positive Sentiment: LSI declared a quarterly dividend of $0.05 per share, equivalent to $0.20 annually and a stated yield of about 1.1%. Dividend announcement
• Negative Sentiment: Reported EPS was $0.19, below analyst estimates cited at $0.21 to $0.31, and down from $0.23 a year earlier. The earnings shortfall may outweigh the modest revenue beat for investors. Quarterly earnings report

About LSI Industries

LSI Industries Inc (NASDAQ: LYTS) designs and manufactures commercial lighting and display solutions for businesses and organizations. Its offerings include indoor and outdoor LED lighting, lighting controls, digital signage, visual display systems, and related graphics and branding products.

The company serves a range of markets, including petroleum and convenience stores, quick-service restaurants, automotive dealerships, grocery and retail locations, sports facilities, and other commercial and industrial environments.