Acuity Brands Inc. (AYI) PT Set at $272.00 by Robert W. Baird
Acuity Brands Inc. (NYSE:AYI) has been given a $272.00 price target by stock analysts at Robert W. Baird in a report released on Thursday. The firm presently has a a “buy” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 12.98% from the stock’s current price.
AYI has been the subject of several other research reports. Roth Capital set a $275.00 price target on Acuity Brands and gave the stock a “hold” rating in a research note on Saturday, October 1st. Credit Agricole SA restated an “outperform” rating and issued a $270.00 price target on shares of Acuity Brands in a research note on Friday, July 1st. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $295.00 price target on shares of Acuity Brands in a research note on Thursday, June 30th. Zacks Investment Research cut Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Finally, Canaccord Genuity upgraded Acuity Brands from a “hold” rating to a “buy” rating and decreased their price target for the stock from $305.00 to $286.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $275.36.
Acuity Brands (NYSE:AYI) opened at 240.74 on Thursday. The firm has a 50-day moving average price of $264.61 and a 200 day moving average price of $255.63. The company has a market cap of $10.52 billion, a P/E ratio of 36.31 and a beta of 1.46. Acuity Brands has a 52 week low of $169.42 and a 52 week high of $280.89.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Thomson Reuters’ 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 company earned $925.50 million during the quarter. During the same quarter last year, the business earned $1.63 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Analysts expect that Acuity Brands will post $9.70 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, October 14th. Acuity Brands’s dividend payout ratio is presently 7.83%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. raised its stake in Acuity Brands by 247.8% in the second quarter. Capital Fund Management S.A. now owns 63,423 shares of the company’s stock valued at $15,726,000 after buying an additional 45,185 shares in the last quarter. Geode Capital Management LLC raised its position in Acuity Brands by 4.5% in the first quarter. Geode Capital Management LLC now owns 262,514 shares of the company’s stock worth $57,231,000 after buying an additional 11,215 shares during the period. Legal & General Group Plc raised its position in Acuity Brands by 400.1% in the first quarter. Legal & General Group Plc now owns 172,106 shares of the company’s stock worth $37,543,000 after buying an additional 137,695 shares during the period. Capstone Asset Management Co. raised its position in Acuity Brands by 42.3% in the second quarter. Capstone Asset Management Co. now owns 6,172 shares of the company’s stock worth $1,530,000 after buying an additional 1,834 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Acuity Brands by 9.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,539 shares of the company’s stock worth $1,621,000 after buying an additional 573 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.
Receive News & Stock Ratings for Acuity Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc. and related stocks with our FREE daily email newsletter.