Acuity Brands (NYSE:AYI) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Acuity Brands (NYSE:AYI) in a research note released on Thursday, Price Targets.com reports.

Other research analysts have also recently issued reports about the company. Oppenheimer started coverage on Acuity Brands in a research note on Thursday, July 1st. They issued a buy rating and a $205.00 price objective for the company. Credit Suisse Group raised their price objective on Acuity Brands from $211.00 to $212.00 and gave the stock an outperform rating in a research note on Tuesday, August 31st. Finally, Zacks Investment Research cut Acuity Brands from a buy rating to a hold rating and set a $195.00 price objective for the company. in a research note on Monday, May 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $183.59.

Acuity Brands stock opened at $180.54 on Thursday. The stock has a 50-day moving average of $176.15 and a two-hundred day moving average of $174.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.74 and a current ratio of 2.29. Acuity Brands has a one year low of $87.90 and a one year high of $194.59. The stock has a market cap of $6.45 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.77 and a beta of 1.64.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, June 30th. The electronics maker reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.68. Acuity Brands had a return on equity of 16.18% and a net margin of 8.39%. The firm had revenue of $899.70 million during the quarter, compared to analysts’ expectations of $840.90 million. During the same period last year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Acuity Brands will post 9.17 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in Acuity Brands by 18.1% during the first quarter. Public Employees Retirement System of Ohio now owns 22,962 shares of the electronics maker’s stock worth $3,789,000 after acquiring an additional 3,521 shares during the period. Alliancebernstein L.P. grew its holdings in Acuity Brands by 118.1% in the first quarter. Alliancebernstein L.P. now owns 197,518 shares of the electronics maker’s stock valued at $32,590,000 after purchasing an additional 106,951 shares during the period. Meeder Asset Management Inc. grew its holdings in Acuity Brands by 865.7% in the second quarter. Meeder Asset Management Inc. now owns 3,573 shares of the electronics maker’s stock valued at $668,000 after purchasing an additional 3,203 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Acuity Brands by 71.3% in the second quarter. BNP Paribas Arbitrage SA now owns 17,653 shares of the electronics maker’s stock valued at $3,302,000 after purchasing an additional 7,347 shares during the period. Finally, Tudor Investment Corp Et Al grew its holdings in Acuity Brands by 249.6% in the first quarter. Tudor Investment Corp Et Al now owns 26,136 shares of the electronics maker’s stock valued at $4,312,000 after purchasing an additional 18,660 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Acuity Brands Company Profile

Acuity Brands, Inc engages in the provision of lighting and building management solutions and services. The firm caters commercial, institutional, industrial, infrastructure and residential applications for various markets. It offers luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers as well as integrated systems for various indoor and outdoor applications.

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Analyst Recommendations for Acuity Brands (NYSE:AYI)

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