Acuity Brands Inc. (AYI) Given a $285.00 Price Target by Cowen and Company Analysts
Acuity Brands Inc. (NYSE:AYI) received a $285.00 price objective from analysts at Cowen and Company in a research note issued on Thursday. The brokerage presently has a a “buy” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 16.82% from the company’s current price.
A number of other research analysts have also recently commented on AYI. Roth Capital set a $275.00 target price on shares of Acuity Brands and gave the stock a “hold” rating in a report on Saturday, October 1st. Canaccord Genuity reissued a “buy” rating on shares of Acuity Brands in a report on Wednesday, June 29th. Credit Agricole SA reissued an “outperform” rating and issued a $270.00 target price on shares of Acuity Brands in a report on Friday, July 1st. William Blair reissued an “outperform” rating on shares of Acuity Brands in a report on Monday, July 25th. Finally, Zacks Investment Research raised shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 target price for the company in a report on Friday, June 24th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $277.64.
Shares of Acuity Brands (NYSE:AYI) traded down 1.30% on Thursday, reaching $240.79. 541,218 shares of the company were exchanged. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89. The company’s 50-day moving average price is $265.67 and its 200 day moving average price is $255.49. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 39.34 and a beta of 1.46.
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Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. The firm had revenue of $925.50 million for the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. On average, equities research analysts expect that Acuity Brands will post $9.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, October 14th. Acuity Brands’s dividend payout ratio (DPR) is 7.83%.
In other news, CEO Vernon J. Nagel sold 65,060 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $268.30, for a total transaction of $17,455,598.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard K. Reece sold 33,430 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $269.07, for a total transaction of $8,995,010.10. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in AYI. Meeder Asset Management Inc. bought a new stake in shares of Acuity Brands during the second quarter valued at approximately $153,000. Mizuho Asset Management Co. Ltd. bought a new stake in shares of Acuity Brands during the second quarter valued at approximately $163,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Acuity Brands during the second quarter valued at approximately $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 period. 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 period. 93.26% of the stock is owned by institutional investors.
Acuity Brands Company Profile
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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