Acuity Brands Inc. (AYI) Given a $285.00 Price Target by Cowen and Company Analysts
Acuity Brands Inc. (NYSE:AYI) has been given a $285.00 target price by Cowen and Company in a research note issued to investors on Thursday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s target price points to a potential upside of 18.38% from the company’s current price.
Several other equities research analysts also recently weighed in on AYI. Roth Capital set a $275.00 target price on shares of Acuity Brands and gave the stock a “hold” rating in a research note on Saturday, October 1st. Canaccord Genuity reissued a “buy” rating on shares of Acuity Brands in a report on Wednesday, June 29th. Credit Agricole SA reissued an “outperform” rating and set a $270.00 price target on shares of Acuity Brands in a report on Friday, July 1st. William Blair reissued an “outperform” rating on shares of Acuity Brands in a report on Monday, July 25th. Finally, Zacks Investment Research raised shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price target for the company in a report on Friday, June 24th. Three analysts have rated the stock with a hold rating and nine have issued 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) opened at 240.74 on Thursday. The stock’s 50 day moving average price is $264.61 and its 200 day moving average price is $255.63. The firm has a market capitalization of $10.52 billion, a PE ratio of 36.31 and a beta of 1.46. Acuity Brands has a one year low of $169.42 and a one year high of $280.89.
Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.39 by $0.18. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The business had revenue of $925.50 million for the quarter. During the same period last year, the business earned $1.63 EPS. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts expect that Acuity Brands will post $9.70 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.22%. Acuity Brands’s dividend payout ratio (DPR) is 7.83%.
Several hedge funds and other institutional investors have recently modified their holdings of AYI. Cupps Capital Management LLC boosted its position in shares of Acuity Brands by 13,618.2% in the first quarter. Cupps Capital Management LLC now owns 4,527 shares of the company’s stock worth $987,000 after buying an additional 4,494 shares during the period. BB&T Securities LLC boosted its position in shares of Acuity Brands by 5.2% in the first quarter. BB&T Securities LLC now owns 1,975 shares of the company’s stock worth $430,000 after buying an additional 98 shares during the period. Credit Agricole S A boosted its position in shares of Acuity Brands by 197.1% in the first quarter. Credit Agricole S A now owns 139,838 shares of the company’s stock worth $30,504,000 after buying an additional 92,774 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Acuity Brands during the first quarter worth $273,000. Finally, Aviva PLC boosted its position in shares of Acuity Brands by 87.9% in the first quarter. Aviva PLC now owns 45,856 shares of the company’s stock worth $10,003,000 after buying an additional 21,456 shares during the period. 93.26% of the stock is owned by institutional investors and hedge funds.
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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