Zacks Upgrades Acuity Brands to Outperform (AYI)
Acuity Brands (NYSE:AYI) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, American Banking News.com reports. The firm currently has a $133.70 target price on the stock. Zacks‘ price target points to a potential upside of 2.78% from the stock’s previous close.
Acuity Brands (NYSE:AYI) traded up 2.29% on Wednesday, hitting $133.07. 412,183 shares of the company’s stock traded hands. Acuity Brands has a 52 week low of $65.99 and a 52 week high of $136.46. The stock’s 50-day moving average is $108.0 and its 200-day moving average is $96.14. The company has a market cap of $5.669 billion and a P/E ratio of 38.59.
Acuity Brands (NYSE:AYI) last released its 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 $4.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 3rd. Shareholders 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 0.40%. The ex-dividend date of this dividend is Thursday, January 16th.
A number of other analysts have also recently weighed in on AYI. Analysts at UBS AG raised their price target on shares of Acuity Brands from $109.00 to $119.00 in a research note to investors on Friday, January 10th. They now have a “neutral” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Acuity Brands from $100.00 to $128.00 in a research note to investors on Friday, January 10th. They now have a “hold” rating on the stock. Finally, analysts at Wedbush upgraded shares of Acuity Brands from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, January 10th. They now have a $120.00 price target on the stock, up previously from $57.00. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $93.45.
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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