Zacks Investment Research cut shares of LSI Industries Inc. (NASDAQ:LYTS) from a buy rating to a hold rating in a report released on Wednesday 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. “

A number of other research firms have also weighed in on LYTS. Roth Capital lowered shares of LSI Industries from a buy rating to a hold rating and cut their target price for the stock from $13.00 to $7.00 in a research note on Friday, August 4th. Canaccord Genuity restated a buy rating and set a $9.00 target price on shares of LSI Industries in a research note on Monday, August 7th. Finally, TheStreet lowered shares of LSI Industries from a b- rating to a c+ rating in a research note on Thursday, August 10th.

Shares of LSI Industries (NASDAQ:LYTS) traded down 0.46% on Wednesday, hitting $6.43. 39,734 shares of the stock were exchanged. LSI Industries has a 52-week low of $4.99 and a 52-week high of $11.00. The stock has a market cap of $164.01 million, a PE ratio of 54.49 and a beta of 1.65. The company’s 50 day moving average is $6.46 and its 200-day moving average is $7.87.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, August 17th. The construction company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). LSI Industries had a return on equity of 3.14% and a net margin of 0.91%. The firm had revenue of $83.42 million for the quarter, compared to analysts’ expectations of $86.55 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts predict that LSI Industries will post $0.20 EPS for the current fiscal year.

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In related news, VP James E. Galeese purchased 16,700 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $6.01 per share, for a total transaction of $100,367.00. Following the completion of the purchase, the vice president now directly owns 330 shares of the company’s stock, valued at approximately $1,983.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James E. Galeese purchased 9,025 shares of the company’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $5.53 per share, for a total transaction of $49,908.25. Following the completion of the purchase, the vice president now directly owns 824 shares of the company’s stock, valued at $4,556.72. The disclosure for this purchase can be found here. Insiders acquired 42,525 shares of company stock worth $249,675 over the last quarter. 6.37% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in LYTS. Genesee Valley Trust Co. purchased a new position in LSI Industries in the second quarter valued at approximately $103,000. American International Group Inc. increased its stake in LSI Industries by 7.0% in the first quarter. American International Group Inc. now owns 14,638 shares of the construction company’s stock valued at $148,000 after purchasing an additional 963 shares during the last quarter. Alliancebernstein L.P. purchased a new position in LSI Industries in the second quarter valued at approximately $152,000. PNC Financial Services Group Inc. increased its stake in LSI Industries by 118.0% in the second quarter. PNC Financial Services Group Inc. now owns 17,739 shares of the construction company’s stock valued at $159,000 after purchasing an additional 9,600 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in LSI Industries by 19.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 15,947 shares of the construction company’s stock valued at $161,000 after purchasing an additional 2,645 shares during the last quarter. Institutional investors own 77.75% 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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