Share on StockTwits

Equities researchers at Northland Securities dropped their price target on shares of Acuity Brands (NYSE:AYI) from $135.00 to $123.00 in a research report issued on Tuesday. The firm currently has a “market perform” rating on the stock. Northland Securities’ price objective would indicate a potential downside of 11.03% from the stock’s previous close.

Acuity Brands (NYSE:AYI) traded down 13.12% on Tuesday, hitting $120.115. The stock had a trading volume of 2,056,754 shares. Acuity Brands has a 1-year low of $75.62 and a 1-year high of $146.28. The stock’s 50-day moving average is $128.2 and its 200-day moving average is $127.4. The company has a market cap of $5.141 billion and a P/E ratio of 38.95.

Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $1.00 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.12 by $0.12. The company had revenue of $603.90 million for the quarter, compared to the consensus estimate of $609.09 million. During the same quarter last year, the company posted $0.97 earnings per share. Acuity Brands’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Acuity Brands will post $4.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, July 16th.

A number of other firms have also recently commented on AYI. Analysts at Sidoti upgraded shares of Acuity Brands from a “neutral” rating to a “buy” rating in a research note on Monday, April 7th. They now have a $172.00 price target on the stock, up previously from $148.00. Separately, analysts at Canaccord Genuity upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. They now have a $172.00 price target on the stock, up previously from $128.00. Finally, analysts at Northland Capital Partners raised their price target on shares of Acuity Brands from $91.00 to $135.00 in a research note on Wednesday, April 2nd. They now have a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Acuity Brands presently has a consensus rating of “Hold” and a consensus price target of $127.87.

Acuity Brands, Inc (NYSE:AYI), incorporated on September 20, 2007, is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.