Sidoti Upgrades Acuity Brands to Buy (AYI)
Acuity Brands (NYSE:AYI) was upgraded by investment analysts at Sidoti from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $172.00 target price on the stock, up from their previous target price of $148.00. Sidoti’s price target suggests a potential upside of 30.88% from the company’s current price.
Shares of Acuity Brands (NYSE:AYI) traded down 2.31% on Monday, hitting $128.38. The stock had a trading volume of 744,149 shares. Acuity Brands has a 1-year low of $68.96 and a 1-year high of $146.28. The stock has a 50-day moving average of $138.2 and a 200-day moving average of $115.5. The company has a market cap of $5.495 billion and a price-to-earnings ratio of 37.03.
Acuity Brands (NYSE:AYI) last released its earnings data on Wednesday, April 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.09. The company had revenue of $546.20 million for the quarter, compared to the consensus estimate of $553.95 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 12.2% 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 Thursday, May 1st. Stockholders of record on Thursday, April 17th 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 Tuesday, April 15th.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their price target on shares of Acuity Brands from $119.00 to $139.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $172.00 price target on the stock, up previously from $128.00. Finally, analysts at Northland Securities reiterated a “hold” rating on shares of Acuity Brands in a research note on Wednesday, April 2nd. They now have a $135.00 price target on the stock, up previously from $91.00. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Acuity Brands presently has an average rating of “Hold” and a consensus price target of $126.89.
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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