Acuity Brands Downgraded by Northland Capital Partners to Market Perform (AYI)
Acuity Brands (NYSE:AYI) was downgraded by stock analysts at Northland Capital Partners from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Stock Ratings Network.com reports. They currently have a $91.00 target price on the stock, up from their previous target price of $90.00. Northland Capital Partners’ target price suggests a potential downside of 1.11% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG downgraded shares of Acuity Brands (NYSE:AYI) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.17.
Shares of Acuity Brands (NYSE:AYI) traded up 4.43% on Tuesday, hitting $96.10. 429,695 shares of the company’s stock traded hands. Acuity Brands has a one year low of $57.42 and a one year high of $94.09. The stock’s 50-day moving average is $88.81 and its 200-day moving average is $80.00. The company has a market cap of $4.055 billion and a P/E ratio of 34.35.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.01. The company had revenue of $579.80 million for the quarter, compared to the consensus estimate of $569.33 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that Acuity Brands will post $3.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, October 16th.
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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