Acuity, Inc. (NYSE:AYI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Acuity, Inc. (NYSE:AYI) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $397.1667.

AYI has been the topic of a number of research reports. Robert W. Baird upped their price objective on Acuity from $315.00 to $390.00 and gave the company a “neutral” rating in a report on Friday, June 26th. TD Cowen restated a “buy” rating on shares of Acuity in a research note on Thursday, June 25th. Morgan Stanley raised their price target on shares of Acuity from $400.00 to $410.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Acuity from a “hold” rating to a “buy” rating in a research note on Sunday, August 30th. Finally, Oppenheimer set a $465.00 price objective on shares of Acuity in a report on Friday, June 26th.

Acuity Trading Down 1.5%

Shares of NYSE:AYI opened at $306.03 on Friday. Acuity has a 12-month low of $257.04 and a 12-month high of $380.17. The stock has a market cap of $9.16 billion, a PE ratio of 20.29, a P/E/G ratio of 1.52 and a beta of 1.29. The business has a 50 day moving average of $333.61 and a 200-day moving average of $309.92. The company has a quick ratio of 1.47, a current ratio of 2.05 and a debt-to-equity ratio of 0.24.

Acuity (NYSE:AYI) last announced its earnings results on Thursday, June 25th. The electronics maker reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.14. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Acuity had a return on equity of 20.26% and a net margin of 10.25%.The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.12 earnings per share. As a group, equities research analysts forecast that Acuity will post 18.49 earnings per share for the current year.

Insider Activity

In related news, CFO Karen Holcom sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $329.62, for a total transaction of $659,240.00. Following the sale, the chief financial officer owned 17,447 shares of the company’s stock, valued at $5,750,880.14. This represents a 10.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Acuity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elyxium Wealth LLC bought a new position in shares of Acuity in the fourth quarter worth $25,000. Persistent Asset Partners Ltd bought a new stake in Acuity during the second quarter worth about $27,000. Danske Bank A S acquired a new stake in Acuity during the second quarter worth about $30,000. Transamerica Financial Advisors LLC acquired a new stake in Acuity during the second quarter worth about $30,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Acuity during the second quarter worth about $31,000. 98.21% of the stock is owned by institutional investors and hedge funds.

About Acuity

Acuity, formerly known as Acuity Brands, Inc, is an industrial technology company that develops products and systems for lighting, building management and connected spaces. Its offerings are designed for commercial, institutional, industrial and residential applications, helping customers manage illumination, energy use, occupancy and other aspects of the built environment.

The company’s lighting portfolio includes indoor and outdoor fixtures, lighting controls, and related components.