LSI Industries (NASDAQ:LYTS) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded LSI Industries from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with a $29 target price.
• LSI Industries beat quarterly expectations, reporting $0.38 in EPS versus the $0.35 estimate and revenue of $234.62 million compared with $222.78 million expected.
• Institutional investors own 73.91% of the company, although insiders sold 96,345 shares worth approximately $1.93 million over the past 90 days.

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

A number of other brokerages have also weighed in on LYTS. Oppenheimer reduced their price objective 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. Weiss Ratings lowered LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Morgan Stanley set a $30.00 price target on LSI Industries in a report on Friday, August 21st. Finally, HC Wainwright reaffirmed a "buy" rating on shares of LSI Industries in a research note on Friday, August 21st. Three investment 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

LSI Industries Price Performance

Shares of LYTS stock opened at $21.09 on Friday. The business has a fifty day simple moving average of $21.98 and a 200 day simple moving average of $22.39. The company has a market cap of $785.81 million, a P/E ratio of 31.48 and a beta of 0.52. 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 twelve month low of $17.20 and a twelve month high of $27.36.

LSI Industries (NASDAQ:LYTS - Get Free Report) last released its earnings results on Thursday, August 20th. The construction company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.03. The firm had revenue of $234.62 million for the quarter, compared to analysts' expectations of $222.78 million. LSI Industries had a return on equity of 7.51% and a net margin of 3.28%. On average, sell-side analysts forecast that LSI Industries will post 0.82 EPS for the current fiscal year.

Insider Activity at LSI Industries

In other LSI Industries news, CEO James Clark sold 13,907 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total value of $282,033.96. Following the completion of the sale, the chief executive officer owned 595,734 shares of the company's stock, valued at approximately $12,081,485.52. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas A. Caneris sold 3,170 shares of the business'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 $64,287.60. Following the sale, the executive vice president owned 73,109 shares of the company's stock, valued at approximately $1,482,650.52. This represents a 4.16% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 96,345 shares of company stock valued at $1,928,267. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of LSI Industries during the second quarter valued at about $72,118,000. Dimensional Fund Advisors LP raised its stake in shares of LSI Industries by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company's stock worth $27,232,000 after purchasing an additional 6,783 shares during the last quarter. AltraVue Capital LLC lifted its holdings in shares of LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company's stock valued at $26,488,000 after purchasing an additional 106,693 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of LSI Industries by 5.4% in the second quarter. Wellington Management Group LLP now owns 1,372,841 shares of the construction company's stock valued at $36,490,000 after purchasing an additional 70,033 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its holdings in shares of LSI Industries by 2.1% in the fourth quarter. WealthTrust Axiom LLC now owns 575,515 shares of the construction company's stock valued at $10,543,000 after purchasing an additional 11,706 shares in the last quarter. Institutional investors and hedge funds own 73.91% of the company's stock.

About LSI Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.