William Blair Reiterates Outperform Rating for Acuity Brands Inc. (AYI)
Acuity Brands Inc. (NYSE:AYI)‘s stock had its “outperform” rating reissued by investment analysts at William Blair in a research report issued on Friday.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Acuity Brands from a “hold” rating to a “sell” rating in a report on Wednesday. Roth Capital reissued a “neutral” rating and issued a $250.00 price target (down from $275.00) on shares of Acuity Brands in a research note on Friday, October 7th. Robert W. Baird set a $272.00 price target on shares of Acuity Brands and gave the stock a “buy” rating in a research note on Thursday, October 6th. Cowen and Company set a $285.00 price target on shares of Acuity Brands and gave the stock a “buy” rating in a research note on Thursday, October 6th. Finally, Canaccord Genuity raised shares of Acuity Brands from a “hold” rating to a “buy” rating and lowered their price target for the stock from $305.00 to $286.00 in a research note on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $275.36.
Shares of Acuity Brands (NYSE:AYI) opened at 244.58 on Friday. The firm has a market capitalization of $10.69 billion, a P/E ratio of 36.89 and a beta of 1.46. The firm’s 50-day moving average price is $260.71 and its 200-day moving average price is $256.09. Acuity Brands has a one year low of $169.42 and a one year high of $280.89.
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Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Thomson Reuters’ 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 earned $925.50 million during the quarter. During the same period last year, the firm posted $1.63 earnings per share. 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 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a $0.13 dividend. The ex-dividend date is Friday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. Acuity Brands’s dividend payout ratio is presently 7.83%.
Several hedge funds and other institutional investors have recently modified their holdings of AYI. Meeder Asset Management Inc. purchased a new position in shares of Acuity Brands during the second quarter valued at about $153,000. Mizuho Asset Management Co. Ltd. purchased a new position in shares of Acuity Brands during the second quarter valued at about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased 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. Hedge funds and other institutional investors own 93.27% of the company’s stock.
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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