Zacks Investment Research cut shares of LSI Industries (NASDAQ:LYTS) from a buy rating to a sell rating in a research note released 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. “
A number of other analysts have also recently issued reports on the company. Canaccord Genuity reissued a buy rating and set a $9.00 target price on shares of LSI Industries in a research note on Thursday, October 26th. Roth Capital set a $7.00 price target on shares of LSI Industries and gave the stock a hold rating in a research note on Thursday, December 14th.
LSI Industries (NASDAQ LYTS) opened at $6.96 on Thursday. The stock has a market cap of $179.51, a PE ratio of -13.38, a P/E/G ratio of 1.47 and a beta of 1.68. 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 has a 52-week low of $4.99 and a 52-week high of $10.68.
LSI Industries (NASDAQ:LYTS) last announced its quarterly earnings results on Thursday, October 26th. The construction company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. LSI Industries had a negative net margin of 4.02% and a positive return on equity of 3.27%. The business had revenue of $87.47 million for the quarter, compared to the consensus estimate of $82.45 million. During the same period last year, the company posted $0.06 EPS. LSI Industries’s revenue for the quarter was up 3.9% on a year-over-year basis. analysts forecast that LSI Industries will post 0.19 earnings per share for the current year.
In other LSI Industries news, VP Howard E. Japlon purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was acquired at an average price of $6.88 per share, with a total value of $34,400.00. Following the acquisition, the vice president now directly owns 23,500 shares of the company’s stock, valued at approximately $161,680. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James E. Galeese bought 7,641 shares of the company’s 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 acquisition, the vice president now directly owns 2,379 shares of the company’s stock, valued at approximately $15,558.66. The disclosure for this purchase can be found here. 6.37% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of LSI Industries by 1.7% in the second quarter. Russell Investments Group Ltd. now owns 22,000 shares of the construction company’s stock worth $200,000 after purchasing an additional 370 shares during the period. Rhumbline Advisers increased its position in shares of LSI Industries by 1.5% in the second quarter. Rhumbline Advisers now owns 29,529 shares of the construction company’s stock worth $267,000 after purchasing an additional 430 shares during the period. Bank of America Corp DE grew its position in LSI Industries by 4.7% in the first quarter. Bank of America Corp DE now owns 21,915 shares of the construction company’s stock valued at $222,000 after acquiring an additional 983 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in LSI Industries by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 24,374 shares of the construction company’s stock valued at $220,000 after acquiring an additional 2,591 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position 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 valued at $161,000 after acquiring an additional 2,645 shares during the last quarter. Institutional investors own 73.18% of the company’s stock.
LSI Industries Company Profile
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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