The Goldman Sachs Group Lowers Acuity (NYSE:AYI) Price Target to $295.00

Acuity (NYSE:AYI) had its target price dropped by equities research analysts at The Goldman Sachs Group from $342.00 to $295.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 9.25% from the stock’s previous close.

Several other research firms also recently issued reports on AYI. Robert W. Baird dropped their price target on Acuity from $320.00 to $315.00 and set a “neutral” rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price target on Acuity from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Wall Street Zen downgraded Acuity from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley dropped their price target on Acuity from $425.00 to $410.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Acuity in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $369.17.

Acuity Stock Performance

Shares of Acuity stock opened at $270.01 on Monday. The company has a market capitalization of $8.28 billion, a PE ratio of 19.80, a PEG ratio of 1.46 and a beta of 1.42. Acuity has a 12 month low of $216.81 and a 12 month high of $380.17. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $291.52 and its 200 day simple moving average is $331.86.

Acuity (NYSE:AYI) last issued its quarterly earnings data on Thursday, January 8th. The electronics maker reported $4.69 EPS for the quarter, topping the consensus estimate of $4.45 by $0.24. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Acuity had a return on equity of 20.74% and a net margin of 9.37%.The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.97 EPS. On average, research analysts predict that Acuity will post 15.86 EPS for the current year.

Insider Activity

In other Acuity news, CFO Karen J. Holcom sold 4,974 shares of Acuity stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $309.23, for a total value of $1,538,110.02. Following the sale, the chief financial officer owned 21,523 shares of the company’s stock, valued at $6,655,557.29. This trade represents a 18.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Acuity

A number of hedge funds and other institutional investors have recently modified their holdings of AYI. Elyxium Wealth LLC acquired a new stake in shares of Acuity in the fourth quarter valued at about $25,000. Financial Consulate Inc. acquired a new stake in shares of Acuity in the third quarter valued at about $26,000. Entrust Financial LLC acquired a new stake in shares of Acuity in the fourth quarter valued at about $27,000. Miller Capital Partners Inc. acquired a new stake in shares of Acuity in the fourth quarter valued at about $27,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Acuity in the third quarter valued at about $33,000. Institutional investors and hedge funds own 98.21% of the company’s stock.

About Acuity

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.