Deutsche Bank AG Reaffirms “Buy” Rating for Acuity Brands Inc. (AYI)
Acuity Brands Inc. (NYSE:AYI)‘s stock had its “buy” rating reiterated by Deutsche Bank AG in a report released on Monday. They presently have a $300.00 target price on the stock. Deutsche Bank AG’s price objective suggests a potential upside of 16.49% from the company’s previous close.
Several other analysts have also issued reports on AYI. Roth Capital initiated coverage on shares of Acuity Brands in a research report on Thursday, August 25th. They set a “neutral” rating and a $275.00 price target on the stock. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $295.00 price target on shares of Acuity Brands in a research report on Friday, September 16th. Canaccord Genuity reiterated a “buy” rating and issued a $305.00 price objective on shares of Acuity Brands in a report on Friday, September 23rd. Finally, Williams Capital assumed coverage on shares of Acuity Brands in a report on Friday, September 30th. They issued a “buy” rating and a $306.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Acuity Brands currently has an average rating of “Buy” and a consensus price target of $278.67.
Shares of Acuity Brands (NYSE:AYI) opened at 256.81 on Monday. The company has a market capitalization of $11.13 billion, a PE ratio of 38.73 and a beta of 1.34. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The company’s 50-day moving average is $240.98 and its 200-day moving average is $255.45.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (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 firm had revenue of $925.50 million for the quarter. During the same quarter in the prior year, the business earned $1.63 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Equities analysts predict that Acuity Brands will post $9.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.20%. Acuity Brands’s payout ratio is 7.83%.
ILLEGAL ACTIVITY NOTICE: This piece was first reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The correct version of this piece can be read at https://www.thecerbatgem.com/2016/11/28/deutsche-bank-ag-reaffirms-buy-rating-for-acuity-brands-inc-ayi.html.
A number of large investors have recently made changes to their positions in AYI. Bronfman E.L. Rothschild L.P. increased its stake in shares of Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the company’s stock worth $114,000 after buying an additional 76 shares during the last quarter. Assetmark Inc. increased its stake in shares of Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock worth $114,000 after buying an additional 5 shares during the last quarter. Global X Management Co. LLC boosted its position in Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the company’s stock worth $122,000 after buying an additional 258 shares during the period. Virtus Investment Advisers Inc. bought a new position in Acuity Brands during the third quarter worth approximately $125,000. Finally, Meeder Asset Management Inc. bought a new position in Acuity Brands during the second quarter worth approximately $153,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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.