Acuity Brands Inc. (AYI) Given Neutral Rating at Roth Capital
Acuity Brands Inc. (NYSE:AYI)‘s stock had its “neutral” rating reaffirmed by equities researchers at Roth Capital in a research note issued on Friday. They presently have a $250.00 price objective on the stock, down from their previous price objective of $275.00. Roth Capital’s price objective would suggest a potential upside of 3.85% from the company’s previous close.
A number of other equities research analysts also recently commented on AYI. Canaccord Genuity reaffirmed a “buy” rating on shares of Acuity Brands in a research report on Wednesday, June 29th. Robert W. Baird set a $272.00 price objective on Acuity Brands and gave the company a “buy” rating in a research report on Thursday. 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. Cowen and Company set a $285.00 target price on Acuity Brands and gave the company a “buy” rating in a report on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Acuity Brands in a report on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $275.36.
Acuity Brands (NYSE:AYI) traded down 1.32% on Friday, hitting $240.74. The stock had a trading volume of 708,371 shares. Acuity Brands has a 12-month low of $169.42 and a 12-month high of $280.89. The firm has a market cap of $10.47 billion, a PE ratio of 39.33 and a beta of 1.46. The company’s 50 day moving average is $264.61 and its 200 day moving average is $255.63.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The business earned $925.50 million during the quarter. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. On average, equities research analysts expect that Acuity Brands will post $9.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, October 14th. Acuity Brands’s payout ratio is 7.83%.
In other news, CFO Richard K. Reece sold 33,430 shares of Acuity Brands stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vernon J. Nagel sold 65,060 shares of Acuity Brands stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Acuity Brands by 21.0% in the second quarter. Vanguard Group Inc. now owns 3,830,254 shares of the company’s stock worth $949,749,000 after buying an additional 663,791 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Acuity Brands by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 2,311,317 shares of the company’s stock worth $573,116,000 after buying an additional 196,804 shares during the last quarter. State Street Corp raised its stake in shares of Acuity Brands by 13.2% in the second quarter. State Street Corp now owns 1,619,301 shares of the company’s stock worth $401,529,000 after buying an additional 188,661 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Acuity Brands by 0.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,340,361 shares of the company’s stock worth $332,356,000 after buying an additional 5,525 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Acuity Brands by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,318,021 shares of the company’s stock worth $287,513,000 after buying an additional 43,167 shares during the last quarter. 93.26% of the stock is currently owned by institutional investors and hedge funds.
About Acuity Brands
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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