Research analysts at Guggenheim started coverage on shares of Acuity Brands, Inc. (NYSE:AYI) in a research report issued on Tuesday, April 11th. The firm set a “neutral” rating and a $181.00 price target on the electronics maker’s stock. Guggenheim’s target price points to a potential upside of 2.98% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Goldman Sachs Group Inc lowered Acuity Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $256.00 to $186.00 in a research note on Wednesday, April 5th. Canaccord Genuity lowered their price objective on Acuity Brands from $240.00 to $209.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $215.00 price objective (down from $265.00) on shares of Acuity Brands in a research note on Thursday, April 6th. JMP Securities reiterated an “underperform” rating and issued a $155.00 price objective (down from $185.00) on shares of Acuity Brands in a research note on Thursday, April 6th. Finally, Zacks Investment Research lowered Acuity Brands from a “hold” rating to a “sell” rating in a research note on Monday, March 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Acuity Brands currently has a consensus rating of “Hold” and a consensus target price of $230.86.
Acuity Brands (NYSE:AYI) traded down 1.56% during trading on Tuesday, reaching $173.02. The company’s stock had a trading volume of 289,972 shares. The company’s 50-day moving average is $183.06 and its 200-day moving average is $214.87. The company has a market capitalization of $7.58 billion, a P/E ratio of 24.86 and a beta of 1.33. Acuity Brands has a 1-year low of $169.53 and a 1-year high of $280.89.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Tuesday, April 4th. The electronics maker reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.83 by $0.06. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The company had revenue of $804.70 million during the quarter, compared to the consensus estimate of $827.22 million. During the same quarter in the prior year, the company posted $1.80 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts anticipate that Acuity Brands will post $8.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 17th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.30%. The ex-dividend date was Wednesday, April 12th. Acuity Brands’s dividend payout ratio is 7.50%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of AYI. Bank of Montreal Can increased its position in Acuity Brands by 2.0% in the third quarter. Bank of Montreal Can now owns 121,386 shares of the electronics maker’s stock valued at $32,120,000 after buying an additional 2,430 shares in the last quarter. 1st Global Advisors Inc. increased its position in Acuity Brands by 167.6% in the third quarter. 1st Global Advisors Inc. now owns 3,594 shares of the electronics maker’s stock valued at $951,000 after buying an additional 2,251 shares in the last quarter. Nationwide Fund Advisors increased its position in Acuity Brands by 5.9% in the third quarter. Nationwide Fund Advisors now owns 144,706 shares of the electronics maker’s stock valued at $38,289,000 after buying an additional 8,062 shares in the last quarter. Parkwood LLC purchased a new position in Acuity Brands during the third quarter valued at about $280,000. Finally, Cue Financial Group Inc. increased its position in Acuity Brands by 196.6% in the third quarter. Cue Financial Group Inc. now owns 3,025 shares of the electronics maker’s stock valued at $800,000 after buying an additional 2,005 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
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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