Acuity (NYSE:AYI) Price Target Raised to $320.00

Acuity (NYSE:AYI) had its target price lifted by Wells Fargo & Company from $285.00 to $320.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target points to a potential upside of 5.31% from the stock’s current price.

AYI has been the subject of several other reports. Morgan Stanley set a $335.00 price target on Acuity in a research report on Friday, April 4th. Wall Street Zen upgraded Acuity from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Finally, Robert W. Baird set a $315.00 price target on Acuity and gave the company a “neutral” rating in a research report on Wednesday, June 18th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.60.

Acuity Stock Down 0.1%

Shares of AYI stock opened at $303.86 on Friday. The stock has a 50 day moving average of $263.22 and a 200 day moving average of $282.43. The company has a current ratio of 1.95, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock has a market cap of $9.39 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.92 and a beta of 1.60. Acuity has a twelve month low of $216.81 and a twelve month high of $345.30.

Acuity (NYSE:AYI) last announced its quarterly earnings results on Thursday, June 26th. The electronics maker reported $5.12 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.68. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Acuity had a return on equity of 20.62% and a net margin of 9.63%. Acuity’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the business earned $4.15 earnings per share. As a group, sell-side analysts expect that Acuity will post 15.86 EPS for the current year.

Institutional Trading of Acuity

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in Acuity by 3.0% in the first quarter. State of Alaska Department of Revenue now owns 3,592 shares of the electronics maker’s stock valued at $945,000 after purchasing an additional 105 shares during the period. Swiss National Bank grew its holdings in Acuity by 0.8% in the fourth quarter. Swiss National Bank now owns 60,500 shares of the electronics maker’s stock valued at $17,674,000 after purchasing an additional 500 shares during the period. Pictet Asset Management Holding SA grew its holdings in Acuity by 9.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,187 shares of the electronics maker’s stock valued at $1,223,000 after purchasing an additional 356 shares during the period. UMB Bank n.a. grew its holdings in Acuity by 45.3% in the first quarter. UMB Bank n.a. now owns 250 shares of the electronics maker’s stock valued at $66,000 after purchasing an additional 78 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Acuity by 42.8% in the fourth quarter. Victory Capital Management Inc. now owns 38,625 shares of the electronics maker’s stock worth $11,284,000 after acquiring an additional 11,583 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Acuity Company Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.