Acuity Brands Inc. (AYI) PT Set at $272.00 by Robert W. Baird
Acuity Brands Inc. (NYSE:AYI) has been assigned a $272.00 price objective by research analysts at Robert W. Baird in a research report issued to clients and investors 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.
A number of other research firms have also issued reports on AYI. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $295.00 price target on shares of Acuity Brands in a report on Friday, September 16th. Canaccord Genuity reissued a “buy” rating and set a $305.00 price target on shares of Acuity Brands in a report on Friday, September 23rd. Roth Capital assumed coverage on Acuity Brands in a report on Thursday, August 25th. They set a “neutral” rating and a $275.00 price target on the stock. DA Davidson reissued a “hold” rating and set a $255.00 price target on shares of Acuity Brands in a report on Tuesday. Finally, Zacks Investment Research raised Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price target on the stock in a report on Friday, June 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $277.64.
Shares of Acuity Brands (NYSE:AYI) traded down 1.30% during trading on Thursday, hitting $240.79. The company’s stock had a trading volume of 541,218 shares. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The company has a 50-day moving average price of $265.67 and a 200-day moving average price of $255.49. The stock has a market cap of $10.47 billion, a PE ratio of 39.34 and a beta of 1.46.
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Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The firm had revenue of $925.50 million for the quarter. During the same quarter in the prior year, the business earned $1.63 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis. Equities analysts predict that Acuity Brands will post $9.70 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.21%. Acuity Brands’s payout ratio is 7.83%.
In other news, CEO Vernon J. Nagel sold 65,060 shares of Acuity Brands 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard K. Reece sold 33,430 shares of Acuity Brands stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in shares of Acuity Brands during the second quarter valued at about $153,000. Mizuho Asset Management Co. Ltd. bought a new position in shares of Acuity Brands during the second quarter valued at about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Acuity Brands during the second quarter valued at about $174,000. Point72 Asia Hong Kong Ltd increased its position 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 in the last quarter. Finally, Pacer Advisors Inc. increased its position 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 in the last quarter. Institutional investors own 93.26% of the company’s stock.
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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