Acuity Brands Inc. (AYI) PT Set at $285.00 by Cowen and Company
Acuity Brands Inc. (NYSE:AYI) has been given a $285.00 price objective by stock analysts at Cowen and Company in a report released on Thursday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s price objective would suggest a potential upside of 16.82% from the company’s previous close.
A number of other brokerages have also issued reports on AYI. Zacks Investment Research lowered Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Roth Capital assumed coverage on Acuity Brands in a research note on Thursday, August 25th. They issued a “neutral” rating and a $275.00 price target 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. restated an “outperform” rating and issued a $295.00 price objective on shares of Acuity Brands in a report on Friday, September 16th. Finally, DA Davidson restated a “hold” rating and issued a $255.00 price objective on shares of Acuity Brands in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $277.64.
Shares of Acuity Brands (NYSE:AYI) traded down 1.38% during trading on Thursday, hitting $240.60. The stock had a trading volume of 599,730 shares. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The company has a market cap of $10.47 billion, a P/E ratio of 39.31 and a beta of 1.46. The stock’s 50-day moving average price is $265.67 and its 200-day moving average price is $255.49.
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Acuity Brands (NYSE:AYI) last issued its quarterly earnings results 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. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The business earned $925.50 million during the quarter. During the same quarter last year, the firm posted $1.63 earnings per share. The company’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts forecast that Acuity Brands will post $9.70 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. Acuity Brands’s payout ratio is currently 7.83%.
In related news, CEO Vernon J. Nagel sold 65,060 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was 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 SEC, which can be accessed through this hyperlink. Also, CFO Richard K. Reece sold 33,430 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $269.07, for a total value of $8,995,010.10. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Acuity Brands during the second quarter valued at about $153,000. Mizuho Asset Management Co. Ltd. acquired a new stake in Acuity Brands during the second quarter valued at about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in Acuity Brands during the second quarter valued at about $174,000. Point72 Asia Hong Kong Ltd increased its stake in 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 stake in 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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