LSI Industries (NASDAQ:LYTS) Raised to Buy at Wall Street Zen

LSI Industries (NASDAQ:LYTS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

LYTS has been the subject of a number of other reports. Oppenheimer cut their price target on LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, August 21st. HC Wainwright reiterated a “buy” rating on shares of LSI Industries in a research note on Friday, August 21st. Weiss Ratings cut LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Morgan Stanley set a $30.00 price objective on 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 stock. Based on data from MarketBeat.com, LSI Industries currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

LSI Industries Stock Performance

Shares of LYTS stock opened at $21.09 on Friday. The stock has a market capitalization of $785.81 million, a P/E ratio of 31.48 and a beta of 0.52. The company has a current ratio of 1.97, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $21.98 and its 200 day moving average is $22.41. LSI Industries has a 12 month low of $17.20 and a 12 month high of $27.36.

LSI Industries (NASDAQ:LYTS) last released its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. LSI Industries had a net margin of 3.28% and a return on equity of 7.51%. The company had revenue of $234.62 million during the quarter, compared to the consensus estimate of $222.78 million. On average, sell-side analysts anticipate that LSI Industries will post 0.82 earnings per share for the current year.

Insider Transactions at LSI Industries

In other news, CFO James E. Galeese sold 4,778 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total transaction of $96,897.84. Following the transaction, the chief financial officer directly owned 185,962 shares in the company, valued at approximately $3,771,309.36. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Clark sold 13,907 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $282,033.96. Following the transaction, the chief executive officer directly owned 595,734 shares in the company, valued at approximately $12,081,485.52. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 96,345 shares of company stock worth $1,928,267. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of LSI Industries

A number of hedge funds have recently bought and sold shares of the company. North Star Investment Management Corp. boosted its stake in shares of LSI Industries by 40.7% in the 1st quarter. North Star Investment Management Corp. now owns 276,463 shares of the construction company’s stock valued at $5,142,000 after purchasing an additional 80,000 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in LSI Industries in the 1st quarter worth $2,107,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in LSI Industries in the second quarter worth $5,324,000. Globeflex Capital L P bought a new stake in LSI Industries in the second quarter worth $5,194,000. Finally, Manatuck Hill Partners LLC purchased a new stake in LSI Industries during the second quarter valued at about $3,455,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Company Profile

LSI Industries Inc (NASDAQ: LYTS) is a designer and manufacturer of commercial lighting, digital displays, and related visual communication solutions. The company serves businesses and organizations that need integrated lighting, signage, and brand presentation systems for indoor and outdoor environments.

LSI’s lighting products include LED fixtures, lighting controls, and specialized systems for applications such as retail stores, commercial and industrial facilities, sports venues, educational institutions, and outdoor spaces.