LSI Industries (NASDAQ:LYTS) Cut to “Hold” at Wall Street Zen

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

LYTS has been the topic of several other research reports. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of LSI Industries in a research note on Friday, October 2nd. Morgan Stanley set a $30.00 price objective on LSI Industries in a research report on Friday, August 21st. Oppenheimer decreased their price objective on LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, August 21st. Finally, Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

LSI Industries Stock Down 2.3%

LYTS stock opened at $16.81 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.97 and a debt-to-equity ratio of 0.68. LSI Industries has a fifty-two week low of $16.74 and a fifty-two week high of $27.36. The firm’s 50-day simple moving average is $20.19 and its 200 day simple moving average is $21.97. The stock has a market cap of $627.18 million, a PE ratio of 31.92 and a beta of 0.54.

LSI Industries (NASDAQ:LYTS) last issued its quarterly earnings data on Thursday, November 5th. The construction company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.12). The firm had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.00 million. LSI Industries had a net margin of 3.28% and a return on equity of 7.51%. As a group, sell-side analysts predict that LSI Industries will post 0.82 EPS for the current year.

LSI Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, November 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, November 16th. LSI Industries’s dividend payout ratio is currently 31.75%.

Insider Activity at LSI Industries

In related news, Director Ernest W. Marshall, Jr. purchased 2,000 shares of LSI Industries stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $19.73 per share, with a total value of $39,460.00. Following the purchase, the director owned 28,643 shares in the company, valued at approximately $565,126.39. The trade was a 7.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James E. Galeese sold 8,269 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $20.09, for a total transaction of $166,124.21. Following the completion of the sale, the chief financial officer directly owned 190,740 shares of the company’s stock, valued at approximately $3,831,966.60. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 96,345 shares of company stock worth $1,928,267 in the last 90 days. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its holdings in shares of LSI Industries by 1.2% in the 1st quarter. Quantinno Capital Management LP now owns 46,120 shares of the construction company’s stock worth $858,000 after acquiring an additional 536 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of LSI Industries by 28.5% during the first quarter. New York State Teachers Retirement System now owns 2,495 shares of the construction company’s stock valued at $46,000 after purchasing an additional 554 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings 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 valued at $31,000 after purchasing an additional 625 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of LSI Industries during the second quarter valued at $31,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of LSI Industries in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

LSI Industries Company Profile

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.