Acuity Brands Inc. (AYI) Given a $285.00 Price Target at Cowen and Company
AYI has been the topic of several other reports. Zacks Investment Research raised shares of Acuity Brands from a sell rating to a hold rating in a report on Thursday, November 10th. DA Davidson reissued a hold rating and set a $255.00 price objective on shares of Acuity Brands in a report on Tuesday, October 4th. Deutsche Bank AG began coverage on shares of Acuity Brands in a report on Tuesday, November 22nd. They set a buy rating and a $300.00 price objective on the stock. Wells Fargo & Co. raised shares of Acuity Brands from a market perform rating to an outperform rating in a report on Monday, October 31st. Finally, Canaccord Genuity raised shares of Acuity Brands from a hold rating to a buy rating and cut their price objective for the company from $305.00 to $286.00 in a report on Thursday, October 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $278.67.
Acuity Brands (NYSE:AYI) opened at 252.16 on Tuesday. The firm has a 50-day moving average of $241.26 and a 200 day moving average of $255.49. The company has a market capitalization of $10.93 billion, a P/E ratio of 38.03 and a beta of 1.34. Acuity Brands has a 52-week low of $169.42 and a 52-week high of $280.89.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data 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. The business had revenue of $925.50 million for 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. Equities analysts predict that Acuity Brands will post $9.49 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th were issued a $0.13 dividend. The ex-dividend date was Friday, October 14th. This represents a $0.52 annualized dividend and a yield of 0.21%. Acuity Brands’s payout ratio is 7.83%.
A number of institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its position in Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the company’s stock valued at $114,000 after buying an additional 76 shares during the last quarter. Assetmark Inc. raised its position in Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock valued at $114,000 after buying an additional 5 shares during the last quarter. Global X Management Co. LLC raised 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 valued at $122,000 after buying an additional 258 shares during the last quarter. Virtus Investment Advisers Inc. purchased a new position in Acuity Brands during the third quarter valued at $125,000. Finally, Meeder Asset Management Inc. purchased a new position in Acuity Brands during the second quarter valued at $153,000. Institutional investors own 91.31% of the company’s stock.
About Acuity Brands
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.
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