Acuity Brands, Inc. (AYI) Receives Average Recommendation of “Hold” from Brokerages
Shares of Acuity Brands, Inc. (NYSE:AYI) have been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the company. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $226.69.
Several equities analysts recently commented on AYI shares. Canaccord Genuity reiterated a “buy” rating and set a $240.00 target price on shares of Acuity Brands in a research note on Tuesday, January 10th. Deutsche Bank AG cut their target price on shares of Acuity Brands from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, March 14th. Zacks Investment Research upgraded shares of Acuity Brands from a “sell” rating to a “hold” rating in a research note on Monday, March 6th. Goldman Sachs Group Inc cut shares of Acuity Brands from a “buy” rating to a “neutral” rating and cut their target price for the company from $256.00 to $186.00 in a research note on Wednesday, April 5th. Finally, Guggenheim started coverage on shares of Acuity Brands in a research note on Tuesday, April 11th. They set a “neutral” rating and a $181.00 target price for the company.
In other news, Director Ray M. Robinson sold 1,100 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total value of $226,809.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $269,490.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Scout Investments Inc. raised its stake in Acuity Brands by 252.8% in the first quarter. Scout Investments Inc. now owns 250,354 shares of the electronics maker’s stock valued at $54,612,000 after buying an additional 179,393 shares during the last quarter. Toronto Dominion Bank raised its stake in Acuity Brands by 56.6% in the first quarter. Toronto Dominion Bank now owns 11,896 shares of the electronics maker’s stock valued at $2,427,000 after buying an additional 4,298 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Acuity Brands by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,380,043 shares of the electronics maker’s stock valued at $281,526,000 after buying an additional 365,466 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Acuity Brands by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,271 shares of the electronics maker’s stock valued at $667,000 after buying an additional 744 shares during the last quarter. Finally, Bell Bank raised its stake in Acuity Brands by 60.1% in the first quarter. Bell Bank now owns 2,217 shares of the electronics maker’s stock valued at $452,000 after buying an additional 832 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Acuity Brands (NYSE:AYI) traded up 3.00% on Friday, reaching $185.20. 759,145 shares of the company’s stock traded hands. Acuity Brands has a 52 week low of $169.53 and a 52 week high of $280.89. The company’s 50-day moving average is $186.39 and its 200-day moving average is $217.30. The firm has a market capitalization of $8.11 billion, a P/E ratio of 26.61 and a beta of 1.33.
Acuity Brands (NYSE:AYI) last released its earnings results on Tuesday, April 4th. The electronics maker reported $1.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The company had revenue of $804.70 million for the quarter, compared to analyst estimates of $827.22 million. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. Acuity Brands’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.80 earnings per share. Equities research analysts anticipate that Acuity Brands will post $7.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 17th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, April 12th. Acuity Brands’s dividend payout ratio is 7.50%.
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Acuity Brands Company Profile
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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