William Blair Reiterates Outperform Rating for Acuity Brands Inc. (AYI)
Acuity Brands Inc. (NYSE:AYI)‘s stock had its “outperform” rating reissued by equities researchers at William Blair in a research report issued on Friday.
Other equities analysts also recently issued research reports about the company. Roth Capital set a $275.00 price target on Acuity Brands and gave the stock a “hold” rating in a research report on Saturday, October 1st. Credit Agricole SA restated an “outperform” rating and set a $270.00 price objective on shares of Acuity Brands in a report on Friday, July 1st. Oppenheimer Holdings Inc. restated a “buy” rating and set a $295.00 price objective on shares of Acuity Brands in a report on Thursday, June 30th. Zacks Investment Research cut Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. Finally, Canaccord Genuity upgraded Acuity Brands from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $305.00 to $286.00 in a report on Thursday, October 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $275.36.
Acuity Brands (NYSE:AYI) opened at 244.58 on Friday. The company’s 50-day moving average price is $260.71 and its 200 day moving average price is $256.09. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 36.89 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 announced its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. The business had revenue of $925.50 million for the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 earnings per share. Equities analysts predict that Acuity Brands will post $9.70 earnings per share for the current fiscal year.
The firm also recently announced 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 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, October 14th. Acuity Brands’s payout ratio is presently 7.83%.
A number of large investors have recently added to or reduced their stakes in AYI. Commonwealth Equity Services Inc boosted its stake in Acuity Brands by 9.9% in the first quarter. Commonwealth Equity Services Inc now owns 2,107 shares of the company’s stock valued at $460,000 after buying an additional 189 shares during the last quarter. Aperio Group LLC boosted its stake in Acuity Brands by 39.0% in the first quarter. Aperio Group LLC now owns 6,652 shares of the company’s stock valued at $1,451,000 after buying an additional 1,866 shares during the last quarter. Ngam Advisors L.P. boosted its stake in Acuity Brands by 11.5% in the first quarter. Ngam Advisors L.P. now owns 12,185 shares of the company’s stock valued at $2,658,000 after buying an additional 1,255 shares during the last quarter. BlackRock Inc. boosted its stake in Acuity Brands by 76.1% in the first quarter. BlackRock Inc. now owns 82,933 shares of the company’s stock valued at $18,091,000 after buying an additional 35,847 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Acuity Brands by 67.3% in the first quarter. BlackRock Group LTD now owns 308,397 shares of the company’s stock valued at $67,273,000 after buying an additional 124,099 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.
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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