LSI Industries (NASDAQ:LYTS) Stock Moved Down to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded LSI Industries from “Buy” to “Hold.” Across analysts, the stock still carries a “Moderate Buy” consensus rating with an average price target of $29.
• LSI reported quarterly earnings per share of $0.19, missing the $0.31 consensus estimate, while revenue of $225.85 million slightly topped the $225 million forecast.
• Company insiders sold a combined 96,345 shares over the past three months, worth approximately $1.93 million.

LSI Industries (NASDAQ:LYTS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. Oppenheimer cut their target price on LSI Industries from $30.00 to $29.00 and set an "outperform" rating on the stock in a research report on Friday, August 21st. Morgan Stanley set a $30.00 price target on LSI Industries in a report on Friday, August 21st. Weiss Ratings downgraded shares of LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 30th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of LSI Industries in a research note on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, LSI Industries presently has an average rating of "Moderate Buy" and an average target price of $29.00.

LSI Industries Price Performance

Shares of LSI Industries stock opened at $17.20 on Friday. LSI Industries has a 12-month low of $16.83 and a 12-month high of $27.36. The firm has a market cap of $641.73 million, a PE ratio of 31.06 and a beta of 0.54. The company's fifty day simple moving average is $20.25 and its two-hundred day simple moving average is $21.99. 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 (NASDAQ:LYTS - Get Free Report) 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 business had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.00 million. LSI Industries had a return on equity of 7.51% and a net margin of 3.28%. As a group, equities analysts expect that LSI Industries will post 0.82 EPS for the current year.

Insider Buying and Selling

In related news, EVP Thomas A. Caneris sold 3,170 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.28, for a total transaction of $64,287.60. Following the transaction, the executive vice president owned 73,109 shares in the company, valued at $1,482,650.52. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James E. Galeese sold 4,778 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $96,897.84. Following the completion of the sale, the chief financial officer directly owned 185,962 shares of the company's stock, valued at $3,771,309.36. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 96,345 shares of company stock worth $1,928,267. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in LSI Industries during the 2nd quarter valued at approximately $72,118,000. Bank of New York Mellon Corp acquired a new stake in shares of LSI Industries in the second quarter valued at about $6,232,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of LSI Industries during the 2nd quarter valued at approximately $5,324,000. Globeflex Capital L P bought a new stake in LSI Industries during the second quarter worth $5,194,000. Finally, Sei Investments Co. grew its stake in LSI Industries by 259.7% in the 1st quarter. Sei Investments Co. now owns 264,336 shares of the construction company's stock worth $4,917,000 after buying an additional 190,840 shares in the last quarter. Hedge funds and other institutional investors own 73.91% of the company's stock.

Trending Headlines about LSI Industries

Here are the key news stories impacting LSI Industries this week:

• Positive Sentiment: Revenue was about $225.9 million, just above the roughly $225.0 million analyst estimate. A separate earnings flash put adjusted EPS at $0.31, matching FactSet’s estimate. Revenue and adjusted EPS results
• Positive Sentiment: LSI declared a quarterly dividend of $0.05 per share, equivalent to $0.20 annually and a stated yield of about 1.1%. Dividend announcement
• Negative Sentiment: Reported EPS was $0.19, below analyst estimates cited at $0.21 to $0.31, and down from $0.23 a year earlier. The earnings shortfall may outweigh the modest revenue beat for investors. Quarterly earnings report

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.

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