Acuity Brands Rating Lowered to Neutral at UBS AG (AYI)
Acuity Brands (NYSE:AYI) was downgraded by equities researchers at UBS AG from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
Shares of Acuity Brands (NYSE:AYI) traded down 1.36% on Wednesday, hitting $91.87. The stock had a trading volume of 66,794 shares. Acuity Brands has a 52-week low of $57.42 and a 52-week high of $93.15. The stock’s 50-day moving average is $87.48 and its 200-day moving average is $78.64. The company has a market cap of $3.877 billion and a P/E ratio of 34.77.
Acuity Brands (NYSE:AYI) last released its earnings data on Tuesday, July 2nd. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.09. The company had revenue of $541.50 million for the quarter, compared to the consensus estimate of $518.76 million. During the same quarter last year, the company posted $0.82 earnings per share. Acuity Brands’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that Acuity Brands will post $3.29 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Acuity Brands (NYSE:AYI) in a research note to investors on Tuesday, August 6th. They set a “neutral” rating and a $85.00 price target on the stock. Separately, analysts at Canaccord Genuity downgraded shares of Acuity Brands (NYSE:AYI) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, July 9th. They now have a $78.00 price target on the stock. Finally, analysts at Piper Jaffray Cos. reiterated a “neutral” rating on shares of Acuity Brands (NYSE:AYI) in a research note to investors on Wednesday, July 3rd. They now have a $72.00 price target on the stock, up previously from $67.00.
Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $74.08.
Acuity Brands, Inc (NYSE:AYI), incorporated on September 20, 2007, is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries.
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