Acuity Brands PT Raised to $57.00 (AYI)
Equities researchers at Wedbush upped their target price on shares of Acuity Brands (NYSE:AYI) from $41.00 to $57.00 in a research report issued on Thursday, StockRatingsNetwork reports. The firm currently has an “underperform” rating on the stock. Wedbush’s price target points to a potential downside of 38.60% from the stock’s previous close.
Shares of Acuity Brands (NYSE:AYI) traded down 1.33% on Thursday, hitting $92.84. The stock had a trading volume of 305,455 shares. Acuity Brands has a 52-week low of $60.11 and a 52-week high of $99.29. The stock has a 50-day moving average of $89.4 and a 200-day moving average of $80.39. The company has a market cap of $3.936 billion and a P/E ratio of 31.89.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts predict that Acuity Brands will post $3.93 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 0.56%. The ex-dividend date of this dividend is Wednesday, October 16th.
Other equities research analysts have also recently issued reports about the stock. Analysts at DA Davidson reiterated a “neutral” rating on shares of Acuity Brands (NYSE:AYI) in a research note to investors on Wednesday. They now have a $100.00 price target on the stock, up previously from $85.00. Separately, analysts at Canaccord Genuity raised their price target on shares of Acuity Brands (NYSE:AYI) from $78.00 to $100.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at Northland Securities downgraded shares of Acuity Brands (NYSE:AYI) from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. They now have a $91.00 price target on the stock. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $80.08.
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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