Acuity Brands (NYSE:AYI) had its price objective boosted by equities researchers at Credit Suisse Group from $148.00 to $154.00 in a research note issued to investors on Thursday, September 19th, The Fly reports. The firm currently has an “outperform” rating on the electronics maker’s stock. Credit Suisse Group’s price objective suggests a potential upside of 16.41% from the stock’s previous close.
Several other research firms have also commented on AYI. ValuEngine lowered Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. CIBC boosted their target price on Acuity Brands from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Roth Capital set a $95.00 target price on Acuity Brands and gave the company a “sell” rating in a report on Wednesday, July 3rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $145.00 target price (down previously from $150.00) on shares of Acuity Brands in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $150.50.
AYI stock opened at $132.29 on Thursday. The business has a 50 day moving average price of $128.51 and a 200 day moving average price of $132.86. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.29 and a beta of 1.57. Acuity Brands has a fifty-two week low of $103.48 and a fifty-two week high of $160.40. The company has a quick ratio of 1.57, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.
Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Tuesday, July 2nd. The electronics maker reported $2.53 EPS for the quarter, topping the consensus estimate of $2.37 by $0.16. The company had revenue of $947.60 million for the quarter, compared to analyst estimates of $969.48 million. Acuity Brands had a return on equity of 19.90% and a net margin of 9.02%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 earnings per share. As a group, sell-side analysts anticipate that Acuity Brands will post 9.05 EPS for the current year.
In related news, Director Ray M. Robinson sold 2,363 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.15, for a total transaction of $307,544.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. River & Mercantile Asset Management LLP purchased a new stake in Acuity Brands during the second quarter worth $569,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Acuity Brands by 184.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,329 shares of the electronics maker’s stock valued at $5,562,000 after acquiring an additional 26,158 shares in the last quarter. Hancock Whitney Corp purchased a new stake in shares of Acuity Brands in the second quarter valued at $4,784,000. Boston Partners purchased a new stake in shares of Acuity Brands in the second quarter valued at $1,939,000. Finally, BlackRock Inc. lifted its position in shares of Acuity Brands by 0.3% in the second quarter. BlackRock Inc. now owns 4,238,540 shares of the electronics maker’s stock valued at $584,538,000 after acquiring an additional 14,592 shares in the last quarter. Institutional investors own 92.91% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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