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

Key Points

• LSI Industries' rating has been downgraded by Zacks Research from "hold" to "strong sell," raising concerns among investors.
• Despite the downgrade, several analysts maintain a positive outlook, with price targets ranging from $22.00 to $28.00 and a consensus rating of "Moderate Buy."
• The company's stock has experienced recent insider selling, with CFO and CEO both reducing their positions significantly, which could signal potential concerns about the company's future performance.

LSI Industries (NASDAQ:LYTS - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of LSI Industries from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 25th. Craig Hallum reaffirmed a "buy" rating and issued a $28.00 price objective on shares of LSI Industries in a research report on Friday, August 22nd. Wall Street Zen raised shares of LSI Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of LSI Industries in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

LSI Industries Trading Down 3.3%

NASDAQ:LYTS opened at $21.92 on Monday. LSI Industries has a one year low of $13.77 and a one year high of $25.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.17 and a current ratio of 1.99. The firm has a market cap of $670.09 million, a P/E ratio of 27.75 and a beta of 0.26. The firm has a 50-day simple moving average of $21.66 and a 200-day simple moving average of $18.31.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. LSI Industries had a net margin of 4.25% and a return on equity of 11.07%. The business had revenue of $155.07 million during the quarter, compared to analyst estimates of $138.89 million. Equities analysts anticipate that LSI Industries will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at LSI Industries

In other news, CFO James E. Galeese sold 54,575 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $23.29, for a total value of $1,271,051.75. Following the sale, the chief financial officer directly owned 173,288 shares of the company's stock, valued at approximately $4,035,877.52. The trade was a 23.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Anthony Clark sold 26,597 shares of LSI Industries stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total transaction of $613,858.76. Following the completion of the transaction, the chief executive officer owned 421,313 shares of the company's stock, valued at $9,723,904.04. This trade represents a 5.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,780 shares of company stock valued at $2,198,983 over the last ninety days. Corporate insiders own 7.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in shares of LSI Industries by 11.8% in the 2nd quarter. Osaic Holdings Inc. now owns 6,007 shares of the construction company's stock valued at $102,000 after purchasing an additional 635 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of LSI Industries by 2.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,856 shares of the construction company's stock valued at $389,000 after purchasing an additional 643 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of LSI Industries by 22.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,077 shares of the construction company's stock valued at $69,000 after purchasing an additional 736 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of LSI Industries by 2.1% in the 1st quarter. Rhumbline Advisers now owns 41,378 shares of the construction company's stock valued at $703,000 after purchasing an additional 858 shares in the last quarter. Finally, Informed Momentum Co LLC increased its holdings in shares of LSI Industries by 1.8% in the 1st quarter. Informed Momentum Co LLC now owns 52,521 shares of the construction company's stock valued at $893,000 after purchasing an additional 905 shares in the last quarter. Institutional investors and hedge funds own 73.91% of the company's stock.

LSI Industries Company Profile

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.

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