LSI Industries Inc. (NASDAQ:LYTS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $7.75 target price on the construction company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.65% from the company’s previous close.
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. “
Other analysts have also issued research reports about the stock. TheStreet lowered shares of LSI Industries from a “b-” rating to a “c+” rating in a research report on Thursday, August 10th. Canaccord Genuity restated a “buy” rating and issued a $9.00 target price on shares of LSI Industries in a research report on Monday, August 7th. Finally, Roth Capital lowered shares of LSI Industries from a “buy” rating to a “hold” rating and cut their target price for the company from $13.00 to $7.00 in a research report on Friday, August 4th.
LSI Industries (NASDAQ LYTS) traded down 0.72% on Wednesday, reaching $6.88. 59,567 shares of the company traded hands. The stock has a 50-day moving average of $6.13 and a 200 day moving average of $8.12. LSI Industries has a 52-week low of $4.99 and a 52-week high of $11.00. The company has a market capitalization of $175.49 million, a PE ratio of 58.31 and a beta of 1.65.
LSI Industries (NASDAQ:LYTS) last posted its quarterly earnings results on Thursday, August 17th. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $83.42 million for the quarter, compared to analyst estimates of $86.55 million. LSI Industries had a return on equity of 3.14% and a net margin of 0.91%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 EPS. On average, equities analysts forecast that LSI Industries will post $0.20 EPS for the current year.
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In other LSI Industries news, VP James E. Galeese purchased 16,700 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $6.01 per share, for a total transaction of $100,367.00. Following the completion of the acquisition, the vice president now owns 330 shares in the company, valued at $1,983.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Howard E. Japlon purchased 10,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average price of $5.90 per share, for a total transaction of $59,000.00. Following the acquisition, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $109,150. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 42,525 shares of company stock worth $249,675. 5.36% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of LSI Industries by 1.7% during the second quarter. Russell Investments Group Ltd. now owns 22,000 shares of the construction company’s stock worth $200,000 after purchasing an additional 370 shares during the period. Rhumbline Advisers lifted its holdings in shares of LSI Industries by 1.5% during the second quarter. Rhumbline Advisers now owns 29,529 shares of the construction company’s stock worth $267,000 after purchasing an additional 430 shares during the period. UBS Group AG lifted its holdings in shares of LSI Industries by 5.6% during the first quarter. UBS Group AG now owns 16,670 shares of the construction company’s stock worth $168,000 after purchasing an additional 890 shares during the period. American International Group Inc. lifted its holdings in shares of LSI Industries by 7.0% during the first quarter. American International Group Inc. now owns 14,638 shares of the construction company’s stock worth $148,000 after purchasing an additional 963 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of LSI Industries by 4.7% during the first quarter. Bank of America Corp DE now owns 21,915 shares of the construction company’s stock worth $222,000 after purchasing an additional 983 shares during the period. Institutional investors own 77.90% of the company’s stock.
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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