Acuity Brands Inc. (AYI) to Release Quarterly Earnings on Wednesday
Acuity Brands Inc. (NYSE:AYI) is scheduled to announce its earnings results on Wednesday, October 5th. Investors that are interested in registering for the company’s conference call can do so using this link.
Acuity Brands Inc. (NYSE:AYI) opened at 264.60 on Monday. The stock’s 50 day moving average is $268.40 and its 200-day moving average is $254.64. The firm has a market capitalization of $11.51 billion, a PE ratio of 43.23 and a beta of 1.61. Acuity Brands Inc. has a 52-week low of $169.42 and a 52-week high of $280.89.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.20%. Acuity Brands’s dividend payout ratio is presently 8.48%.
In other Acuity Brands news, CFO Richard K. Reece sold 33,430 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $269.07, for a total transaction of $8,995,010.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Black sold 2,654 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $250.27, for a total value of $664,216.58. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd increased its position in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares during the period. Euclid Advisors LLC bought a new position in shares of Acuity Brands during the second quarter valued at approximately $332,000. Cubist Systematic Strategies LLC increased its position in shares of Acuity Brands by 85.9% in the second quarter. Cubist Systematic Strategies LLC now owns 8,314 shares of the company’s stock valued at $2,062,000 after buying an additional 3,841 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of Acuity Brands during the second quarter valued at approximately $248,000. Finally, A.R.T. Advisors LLC bought a new position in shares of Acuity Brands during the second quarter valued at approximately $2,004,000. Institutional investors own 93.26% of the company’s stock.
A number of research firms have commented on AYI. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $295.00 price objective on shares of Acuity Brands in a research note on Thursday, June 30th. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Credit Agricole SA reiterated an “outperform” rating and issued a $270.00 target price on shares of Acuity Brands in a report on Friday, July 1st. Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a report on Wednesday, June 29th. Finally, William Blair reiterated an “outperform” rating on shares of Acuity Brands in a report on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $281.78.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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