Acuity Brands Price Target Raised to $128.00 at Cantor Fitzgerald (AYI)
Research analysts at Cantor Fitzgerald lifted their price objective on shares of Acuity Brands (NYSE:AYI) from $100.00 to $128.00 in a report released on Friday, Analyst Ratings Network reports. The firm currently has a “hold” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 3.64% from the company’s current price.
Shares of Acuity Brands (NYSE:AYI) traded up 7.66% during mid-day trading on Friday, hitting $132.96. 225,705 shares of the company’s stock traded hands. Acuity Brands has a 1-year low of $64.95 and a 1-year high of $136.46. The stock’s 50-day moving average is $105.4 and its 200-day moving average is $94.63. The company has a market cap of $5.556 billion and a P/E ratio of 41.86.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Thursday, January 9th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.12. The company had revenue of $574.70 million for the quarter, compared to the consensus estimate of $540.93 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts predict that Acuity Brands will post $3.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders of record on Tuesday, January 21st will be given a dividend of 0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, January 16th.
Separately, analysts at Wedbush upgraded shares of Acuity Brands from an “underperform” rating to a “neutral” rating in a research note to investors on Friday. They now have a $120.00 price target on the stock, up previously from $57.00. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $88.38.
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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