Acuity Brands Inc. (AYI) Trading Down 2.5%
Acuity Brands Inc. (NYSE:AYI) fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $255.47 and last traded at $256.05, with a volume of 158,810 shares traded. The stock had previously closed at $262.73.
Several research firms have recently issued reports on AYI. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Roth Capital began coverage on shares of Acuity Brands in a research note on Thursday, August 25th. They set a “neutral” rating and a $275.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $295.00 target price on shares of Acuity Brands in a research note on Friday. Finally, Credit Agricole SA reissued an “outperform” rating and set a $270.00 target price on shares of Acuity Brands in a research note on Friday, July 1st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Acuity Brands has a consensus rating of “Buy” and a consensus target price of $274.25.
The firm has a market capitalization of $11.03 billion, a P/E ratio of 41.43 and a beta of 1.61. The company’s 50 day moving average price is $270.23 and its 200-day moving average price is $252.29.
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Acuity Brands (NYSE:AYI) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.03. The company had revenue of $851.50 million for the quarter. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Analysts expect that Acuity Brands Inc. will post $8.01 earnings per share for the current year.
In other Acuity Brands news, CFO Richard K. Reece sold 33,430 shares of Acuity Brands stock in a transaction on Monday, July 11th. The shares were sold at an average price of $269.07, for a total value of $8,995,010.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark A. Black sold 2,654 shares of Acuity Brands stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $250.27, for a total transaction of $664,216.58. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AYI. Meeder Asset Management Inc. acquired a new position in Acuity Brands during the second quarter worth approximately $153,000. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of Acuity Brands during the second quarter valued at $163,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Acuity Brands during the second quarter valued at $174,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock valued at $191,000 after buying an additional 65 shares during the last quarter. Institutional investors own 93.38% of the company’s stock.
About Acuity Brands
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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