LSI Industries Inc. (NASDAQ:LYTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
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 research reports. Roth Capital lowered shares of LSI Industries from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $7.00 in a report on Friday, August 4th. Canaccord Genuity reissued a “buy” rating and issued a $9.00 price objective on shares of LSI Industries in a report on Monday.
LSI Industries (NASDAQ:LYTS) opened at 5.85 on Thursday. The company has a market cap of $148.58 million, a price-to-earnings ratio of 41.49 and a beta of 1.56. LSI Industries has a 52-week low of $5.80 and a 52-week high of $11.55. The firm’s 50-day moving average is $8.70 and its 200 day moving average is $9.23.
Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in LSI Industries by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 236,200 shares of the construction company’s stock worth $2,301,000 after buying an additional 10,200 shares during the last quarter. Creative Planning boosted its position in LSI Industries by 4,459.0% in the first quarter. Creative Planning now owns 44,450 shares of the construction company’s stock worth $449,000 after buying an additional 43,475 shares during the last quarter. TFS Capital LLC bought a new position in LSI Industries during the first quarter worth approximately $204,000. Kennedy Capital Management Inc. boosted its position in LSI Industries by 0.3% in the first quarter. Kennedy Capital Management Inc. now owns 733,393 shares of the construction company’s stock worth $7,400,000 after buying an additional 1,984 shares during the last quarter. Finally, State Street Corp boosted its position in LSI Industries by 7.8% in the fourth quarter. State Street Corp now owns 376,725 shares of the construction company’s stock worth $3,672,000 after buying an additional 27,305 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
About LSI Industries
LSI Industries Inc is a provider of corporate visual image solutions to the petroleum/convenience store industry. The Company designs and develops aspects of the solid-state light emitting diode (LED) lighting, from the electronic circuit board, to the software to drive and control the LEDs, to the structure of the LED product.
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