Roth Capital reiterated their neutral rating on shares of Acuity Brands Inc. (NYSE:AYI) in a research note released on Friday. Roth Capital currently has a $250.00 price target on the stock, down from their prior price target of $275.00.
AYI has been the topic of several other reports. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $295.00 target price on shares of Acuity Brands in a report on Friday, September 16th. Canaccord Genuity reiterated a buy rating and set a $305.00 target price on shares of Acuity Brands in a report on Friday, September 23rd. DA Davidson reiterated a hold rating and set a $255.00 target price on shares of Acuity Brands in a report on Tuesday, October 4th. Zacks Investment Research upgraded shares of Acuity Brands from a hold rating to a buy rating and set a $285.00 target price on the stock in a report on Friday, June 24th. Finally, Cowen and Company set a $285.00 target price on shares of Acuity Brands and gave the stock a buy rating in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Acuity Brands has a consensus rating of Buy and an average price target of $275.36.
Acuity Brands (NYSE:AYI) opened at 244.65 on Friday. The company’s 50-day moving average is $261.59 and its 200-day moving average is $256.17. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89. The stock has a market capitalization of $10.69 billion, a PE ratio of 36.90 and a beta of 1.46.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The company earned $925.50 million during the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Equities research analysts forecast that Acuity Brands will post $9.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, October 14th. Acuity Brands’s payout ratio is currently 7.83%.
Several institutional investors have recently made changes to their positions in AYI. Meeder Asset Management Inc. bought a new position in shares of Acuity Brands during the second quarter valued at approximately $153,000. Mizuho Asset Management Co. Ltd. bought a new position in shares of Acuity Brands during the second quarter valued at approximately $163,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Acuity Brands during the second quarter valued at approximately $174,000. Point72 Asia Hong Kong Ltd raised its position in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock valued at $191,000 after buying an additional 65 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.
Acuity Brands Company Profile
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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