LSI Industries (LYTS) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of LSI Industries (NASDAQ:LYTS) from a hold rating to a sell rating in a report released on Friday morning.

According to Zacks, “LSI Industries is an Image Solutions company, combining integrated design, manufacturing, & technology to supply its own high quality lighting fixtures and graphics elements for applications in the retail, specialty niche, & commercial markets. The Company’s Lighting Segment produces high performance products dedicated to the outdoor, architectural outdoor, indoor, architectural indoor and accent/downlight markets. The Graphics Segment provides a vast array of products and services including signage, menu board systems, active digital signage, decorative fixturing, design support, engineering & project management for custom programs for today’s retail environment. The Company’s Technology Segment develops and designs high performance light engines, digital signage and other products using LED lighting technology, including large format LED video screens for the entertainment & sports markets. LSI’s major markets are the petroleum convenience store multisite retail & the commercial industrial lighting markets. “

LYTS has been the subject of a number of other reports. Roth Capital upgraded shares of LSI Industries from a neutral rating to a buy rating and set a $14.00 target price for the company in a report on Thursday, August 16th. TheStreet cut shares of LSI Industries from a c- rating to a d+ rating in a report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $10.76.

Shares of LSI Industries stock traded down $0.02 on Friday, hitting $4.44. The company had a trading volume of 213,017 shares, compared to its average volume of 85,223. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.61 and a quick ratio of 1.40. The stock has a market capitalization of $118.81 million, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.65 and a beta of 1.35. LSI Industries has a 52 week low of $3.98 and a 52 week high of $8.88.

LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.04). The company had revenue of $84.96 million during the quarter, compared to the consensus estimate of $90.00 million. LSI Industries had a negative net margin of 0.64% and a positive return on equity of 4.38%. On average, analysts forecast that LSI Industries will post 0.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Friday, November 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Thursday, November 15th. LSI Industries’s payout ratio is 90.91%.

In other LSI Industries news, VP James E. Galeese bought 9,745 shares of LSI Industries stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $50,089.30. Following the completion of the acquisition, the vice president now owns 16,660 shares of the company’s stock, valued at approximately $85,632.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Allan Steele bought 10,000 shares of LSI Industries stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $5.24 per share, with a total value of $52,400.00. Following the completion of the acquisition, the director now directly owns 24,439 shares of the company’s stock, valued at approximately $128,060.36. The disclosure for this purchase can be found here. Insiders have purchased 38,071 shares of company stock valued at $194,240 over the last 90 days. 2.86% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of LSI Industries by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,084,599 shares of the construction company’s stock valued at $11,132,000 after acquiring an additional 92,494 shares in the last quarter. BlackRock Inc. lifted its position in shares of LSI Industries by 6.7% in the 1st quarter. BlackRock Inc. now owns 1,816,296 shares of the construction company’s stock valued at $14,729,000 after acquiring an additional 113,931 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of LSI Industries by 13.4% in the 2nd quarter. Systematic Financial Management LP now owns 914,788 shares of the construction company’s stock valued at $4,885,000 after acquiring an additional 107,766 shares in the last quarter. WealthTrust Axiom LLC lifted its position in shares of LSI Industries by 4.6% in the 3rd quarter. WealthTrust Axiom LLC now owns 834,875 shares of the construction company’s stock valued at $3,840,000 after acquiring an additional 36,501 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of LSI Industries by 253.5% in the 2nd quarter. Millennium Management LLC now owns 564,711 shares of the construction company’s stock valued at $3,016,000 after acquiring an additional 404,950 shares in the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.

About LSI Industries

LSI Industries Inc provides corporate visual image solutions in the United States, Canada, Australia, and Latin America. It operates in three segments: Lighting, Graphics, and Technology. The Lighting segment manufactures and markets outdoor and indoor lighting and lighting controls for the commercial, industrial, and multi-site retail markets, including the petroleum/convenience store, quick-service, and automotive markets.

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