Acuity Brands Inc. (AYI) Given Neutral Rating at Roth Capital
Acuity Brands Inc. (NYSE:AYI)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Roth Capital in a research note issued to investors on Friday. They currently have a $250.00 price target on the stock, down from their prior price target of $275.00. Roth Capital’s target price indicates a potential upside of 3.85% from the company’s previous close.
Several other equities research analysts have also recently weighed in on AYI. Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research note on Wednesday, June 29th. Robert W. Baird set a $272.00 target price on shares of Acuity Brands and gave the company a “buy” rating in a research note on Thursday. Credit Agricole SA reiterated an “outperform” rating and issued a $270.00 target price on shares of Acuity Brands in a research note on Friday, July 1st. Cowen and Company set a $285.00 target price on shares of Acuity Brands and gave the company a “buy” rating in a research note on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Acuity Brands currently has a consensus rating of “Buy” and an average price target of $275.36.
Shares of Acuity Brands (NYSE:AYI) traded down 1.32% during trading on Friday, hitting $240.74. The stock had a trading volume of 708,371 shares. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 39.33 and a beta of 1.46. The stock’s 50-day moving average price is $264.61 and its 200 day moving average price is $255.63.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/acuity-brands-inc-ayi-given-neutral-rating-at-roth-capital.html
Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. The firm had revenue of $925.50 million for the quarter. During the same period last year, the business earned $1.63 EPS. Acuity Brands’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities analysts forecast that Acuity Brands will post $9.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, October 14th. Acuity Brands’s payout ratio 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 modified their holdings of the stock. Vanguard Group Inc. raised 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 worth $949,749,000 after buying an additional 663,791 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $573,116,000 after buying an additional 196,804 shares in the last quarter. State Street Corp raised 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 worth $401,529,000 after buying an additional 188,661 shares in the last quarter. Artisan Partners Limited Partnership raised 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 worth $332,356,000 after buying an additional 5,525 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised 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 worth $287,513,000 after buying an additional 43,167 shares in the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Acuity Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.