LSI Industries (NASDAQ:LYTS) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of LSI Industries (NASDAQ:LYTS) from a buy rating to a sell rating in a report published on Thursday, December 28th.

According to Zacks, “LSI Industries is an Image Solutions company, combining integrated design, manufacturing, & technology to supply its own high quality lighting fixtures and graphics elements for applications in the retail, specialty niche, & commercial markets. The Company’s Lighting Segment produces high performance products dedicated to the outdoor, architectural outdoor, indoor, architectural indoor and accent/downlight markets. The Graphics Segment provides a vast array of products and services including signage, menu board systems, active digital signage, decorative fixturing, design support, engineering & project management for custom programs for today’s retail environment. The Company’s Technology Segment develops and designs high performance light engines, digital signage and other products using LED lighting technology, including large format LED video screens for the entertainment & sports markets. LSI’s major markets are the petroleum convenience store multisite retail & the commercial industrial lighting markets. “

LYTS has been the topic of a number of other reports. Roth Capital set a $7.00 price target on LSI Industries and gave the stock a hold rating in a research note on Thursday, December 14th. Canaccord Genuity reaffirmed a buy rating and issued a $9.00 price target on shares of LSI Industries in a research note on Thursday, October 26th.

Shares of LSI Industries (NASDAQ:LYTS) opened at $7.13 on Thursday. The stock has a market capitalization of $177.19, a PE ratio of -13.71, a PEG ratio of 1.53 and a beta of 1.68. LSI Industries has a 12-month low of $4.99 and a 12-month high of $10.68. The company has a current ratio of 2.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, October 26th. The construction company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. The company had revenue of $87.47 million during the quarter, compared to the consensus estimate of $82.45 million. LSI Industries had a positive return on equity of 3.27% and a negative net margin of 4.02%. LSI Industries’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. sell-side analysts forecast that LSI Industries will post 0.19 earnings per share for the current year.

In other LSI Industries news, VP James E. Galeese bought 7,641 shares of LSI Industries stock in a transaction dated Wednesday, December 6th. The shares were purchased at an average cost of $6.54 per share, with a total value of $49,972.14. Following the completion of the purchase, the vice president now owns 2,379 shares of the company’s stock, valued at $15,558.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Howard E. Japlon purchased 5,000 shares of LSI Industries stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average cost of $6.88 per share, for a total transaction of $34,400.00. Following the completion of the purchase, the vice president now owns 23,500 shares of the company’s stock, valued at $161,680. The disclosure for this purchase can be found here. 6.37% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in LSI Industries in the third quarter worth $112,000. Dynamic Technology Lab Private Ltd purchased a new stake in LSI Industries in the third quarter worth $151,000. Alliancebernstein L.P. purchased a new stake in LSI Industries in the second quarter worth $152,000. PNC Financial Services Group Inc. boosted its holdings in LSI Industries by 118.0% in the second quarter. PNC Financial Services Group Inc. now owns 17,739 shares of the construction company’s stock worth $159,000 after acquiring an additional 9,600 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in LSI Industries by 19.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 15,947 shares of the construction company’s stock worth $161,000 after acquiring an additional 2,645 shares in the last quarter. 73.18% of the stock is currently owned by institutional investors.

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About LSI Industries

LSI Industries Inc is a provider of corporate visual image solutions to the petroleum/convenience store industry. The Company designs and develops aspects of the solid-state light emitting diode (LED) lighting, from the electronic circuit board, to the software to drive and control the LEDs, to the structure of the LED product.

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