Acuity Brands PT Lowered to $130.00 (AYI)
Investment analysts at DA Davidson decreased their price objective on shares of Acuity Brands (NYSE:AYI) from $145.00 to $130.00 in a note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 10.53% from the stock’s previous close.
Acuity Brands (NYSE:AYI) opened at 117.62 on Wednesday. Acuity Brands has a 52-week low of $80.23 and a 52-week high of $146.28. The stock has a 50-day moving average of $128. and a 200-day moving average of $127.7. The company has a market cap of $5.034 billion and a price-to-earnings ratio of 33.14.
Acuity Brands (NYSE:AYI) last announced its 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 $4.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders 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 0.44%. The ex-dividend date is Wednesday, July 16th.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research note on Wednesday. They now have a $156.00 price target on the stock, down previously from $172.00. Separately, analysts at Northland Securities cut their price target on shares of Acuity Brands from $135.00 to $123.00 in a research note on Tuesday. They now have a “market perform” rating on the stock. Finally, 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. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $125.28.
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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