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

LSI Industries (NASDAQ:LYTS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

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

LSI Industries Stock Up 3.6%

LYTS stock opened at $22.30 on Wednesday. The firm has a market cap of $693.31 million, a price-to-earnings ratio of 27.20 and a beta of 0.18. LSI Industries has a 1-year low of $13.77 and a 1-year high of $24.75. The firm has a fifty day moving average price of $19.27 and a two-hundred day moving average price of $20.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.19 and a quick ratio of 1.36.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LYTS. AQR Capital Management LLC raised its holdings in LSI Industries by 26.7% during the first quarter. AQR Capital Management LLC now owns 61,107 shares of the construction company’s stock worth $1,039,000 after purchasing an additional 12,876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of LSI Industries by 6.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,165 shares of the construction company’s stock worth $292,000 after buying an additional 1,113 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of LSI Industries in the first quarter valued at $560,000. Strs Ohio bought a new position in LSI Industries during the first quarter valued at about $34,000. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in LSI Industries by 6.7% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 125,989 shares of the construction company’s stock worth $2,143,000 after acquiring an additional 7,954 shares during the period. Institutional investors and hedge funds own 73.91% of the company’s stock.

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.