Acuity Brands Inc. (AYI) Given a $272.00 Price Target by Robert W. Baird Analysts
Acuity Brands Inc. (NYSE:AYI) has been assigned a $272.00 price target by investment analysts at Robert W. Baird in a research note issued on Thursday. The brokerage presently has a a “buy” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 11.49% from the stock’s previous close.
AYI has been the subject of several other reports. DA Davidson reaffirmed a “hold” rating and set a $255.00 target price on shares of Acuity Brands in a report on Tuesday. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $295.00 target price on shares of Acuity Brands in a report on Thursday, June 30th. Credit Agricole SA reaffirmed an “outperform” rating and set a $270.00 target price on shares of Acuity Brands in a report on Friday, July 1st. Canaccord Genuity raised shares of Acuity Brands from a “hold” rating to a “buy” rating and cut their target price for the company from $305.00 to $286.00 in a report on Thursday. Finally, Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Acuity Brands has an average rating of “Buy” and a consensus target price of $277.64.
Shares of Acuity Brands (NYSE:AYI) traded down 1.38% during trading on Thursday, hitting $240.60. 599,730 shares of the company were exchanged. The firm’s 50-day moving average price is $265.67 and its 200 day moving average price is $255.49. The firm has a market capitalization of $10.47 billion, a PE ratio of 39.31 and a beta of 1.46. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89.
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Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.39 by $0.18. The firm had revenue of $925.50 million for the quarter. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. Acuity Brands’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted $1.63 earnings per share. On average, equities research analysts expect that Acuity Brands will post $9.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, October 14th. This represents a $0.52 annualized dividend and a yield of 0.21%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.83%.
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 transaction of $8,995,010.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vernon J. Nagel sold 65,060 shares of Acuity Brands stock in a transaction on Monday, July 11th. The stock was sold at an average price of $268.30, for a total transaction of $17,455,598.00. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Acuity Brands by 21.0% in the second quarter. Vanguard Group Inc. now owns 3,830,254 shares of the company’s stock valued at $949,749,000 after buying an additional 663,791 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Acuity Brands by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 2,311,317 shares of the company’s stock valued at $573,116,000 after buying an additional 196,804 shares during the period. State Street Corp boosted its stake in shares of Acuity Brands by 13.2% in the second quarter. State Street Corp now owns 1,619,301 shares of the company’s stock valued at $401,529,000 after buying an additional 188,661 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Acuity Brands by 0.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,340,361 shares of the company’s stock valued at $332,356,000 after buying an additional 5,525 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Acuity Brands by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,318,021 shares of the company’s stock valued at $287,513,000 after buying an additional 43,167 shares during the period. 93.26% of the stock is currently owned by institutional investors.
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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