Several brokerages have updated their recommendations and price targets on shares of Acuity Brands (NYSE: AYI) in the last few weeks:

  • 10/3/2017 – Acuity Brands was upgraded by analysts at JMP Securities from an “underperform” rating to a “market perform” rating. They now have a $183.00 price target on the stock.
  • 9/19/2017 – Acuity Brands was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $178.00 price target on the stock, down previously from $212.00.
  • 9/19/2017 – Acuity Brands was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Acuity Brands lost 27.3% so far this year. Acuity Brands operates in a highly competitive industry that is affected by volatility owing to a number of general business and economic factors. Higher spending on research and development of energy efficient lighting products may dent margins and thereby the bottom line of the company. Gross profit margin in the last quarter decreased 200 basis points year over year. The company’s profits in the last quarter were adversely impacted by higher-than-normal supply chain costs, including increased quality expenses and inbound freight charges.”
  • 9/15/2017 – Acuity Brands was downgraded by analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating. They now have a $185.00 price target on the stock, down previously from $225.00.
  • 8/26/2017 – Acuity Brands was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/11/2017 – Acuity Brands was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Acuity Brands Inc (NYSE AYI) opened at 169.66 on Wednesday. Acuity Brands Inc has a 12 month low of $153.28 and a 12 month high of $261.43. The company’s 50-day moving average price is $173.86 and its 200-day moving average price is $182.89. The firm has a market cap of $7.31 billion, a P/E ratio of 23.67 and a beta of 1.43.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a dividend yield of 0.31%. Acuity Brands’s payout ratio is 7.24%.

In related news, EVP Mark A. Black sold 5,427 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $205.29, for a total value of $1,114,108.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Browning sold 970 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $200.05, for a total value of $194,048.50. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $200,050. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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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