Roth Capital Reiterates “$130.00” Price Target for Acuity Brands Inc (AYI)
Acuity Brands Inc (NYSE:AYI) received a $130.00 price target from research analysts at Roth Capital in a report issued on Thursday. The firm currently has a “sell” rating on the electronics maker’s stock. Roth Capital’s price target would suggest a potential downside of 26.01% from the company’s previous close.
A number of other equities analysts have also weighed in on AYI. JMP Securities upgraded shares of Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 price target on the stock in a research report on Tuesday. BidaskClub upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Canaccord Genuity restated a “buy” rating and set a $215.00 price target on shares of Acuity Brands in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Robert W. Baird restated an “outperform” rating and set a $206.00 price target (down from $210.00) on shares of Acuity Brands in a research report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $205.92.
Shares of Acuity Brands (NYSE AYI) traded down 1.48% during mid-day trading on Thursday, hitting $175.69. 1,220,644 shares of the stock traded hands. The company has a market cap of $7.57 billion, a P/E ratio of 24.51 and a beta of 1.43. The firm has a 50 day moving average of $173.75 and a 200 day moving average of $182.85. Acuity Brands has a 12 month low of $153.28 and a 12 month high of $261.43.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. The firm had revenue of $957.60 million for the quarter, compared to analyst estimates of $975.05 million. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. Acuity Brands’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. Equities analysts anticipate that Acuity Brands will post $9.30 EPS for the current fiscal year.
Acuity Brands declared that its Board of Directors has approved a share repurchase program on Thursday, June 29th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the electronics maker to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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In other news, EVP Mark A. Black sold 5,427 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $205.29, for a total value of $1,114,108.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Acuity Brands by 661.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock valued at $111,000 after acquiring an additional 476 shares during the period. Seven Bridges Advisors LLC purchased a new stake in shares of Acuity Brands in the 2nd quarter valued at approximately $117,000. YorkBridge Wealth Partners LLC raised its stake in shares of Acuity Brands by 11.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock valued at $119,000 after acquiring an additional 58 shares during the period. QS Investors LLC raised its stake in shares of Acuity Brands by 1.2% in the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 7 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Acuity Brands by 7.7% in the 1st quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock valued at $125,000 after acquiring an additional 44 shares during the period.
About Acuity Brands
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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