Shares of Acuity Brands Inc. (NYSE:AYI) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the company. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $282.29.
Several equities analysts have weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and set a $305.00 price objective on shares of Acuity Brands in a research report on Friday. Roth Capital started coverage on shares of Acuity Brands in a research note on Thursday, August 25th. They set a “neutral” rating and a $275.00 target price for the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $295.00 target price on shares of Acuity Brands in a research note on Friday, September 16th. Zacks Investment Research raised shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 target price for the company in a research note on Friday, June 24th. Finally, Williams Capital started coverage on shares of Acuity Brands in a research note on Friday. They set a “buy” rating and a $306.00 target price for the company.
Shares of Acuity Brands (NYSE:AYI) traded up 1.2574% on Friday, hitting $263.6845. The company had a trading volume of 260,502 shares. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 43.0787 and a beta of 1.61. Acuity Brands has a 12-month low of $169.42 and a 12-month high of $280.89. The company has a 50 day moving average of $268.70 and a 200-day moving average of $254.29.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.03. The firm had revenue of $851.50 million for the quarter. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. On average, analysts forecast that Acuity Brands will post $8.02 earnings per share for the current year.
In other Acuity Brands news, EVP Mark A. Black sold 2,654 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $250.27, for a total transaction of $664,216.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vernon J. Nagel sold 65,060 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $268.30, for a total transaction of $17,455,598.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Acuity Brands during the first quarter worth $273,000. Aviva PLC raised its position in Acuity Brands by 87.9% in the first quarter. Aviva PLC now owns 45,856 shares of the company’s stock worth $10,003,000 after buying an additional 21,456 shares in the last quarter. M&T Bank Corp raised its position in Acuity Brands by 14.0% in the first quarter. M&T Bank Corp now owns 6,741 shares of the company’s stock worth $1,471,000 after buying an additional 827 shares in the last quarter. Bessemer Group Inc. raised its position in Acuity Brands by 13,668.4% in the first quarter. Bessemer Group Inc. now owns 2,616 shares of the company’s stock worth $570,000 after buying an additional 2,597 shares in the last quarter. Finally, Marietta Investment Partners LLC raised its position in Acuity Brands by 4.2% in the first quarter. Marietta Investment Partners LLC now owns 24,222 shares of the company’s stock worth $5,284,000 after buying an additional 986 shares in the last quarter. 93.26% 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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