Acuity Brands, Inc. (NYSE:AYI) – Research analysts at William Blair upped their Q2 2018 earnings per share estimates for Acuity Brands in a research note issued on Wednesday. William Blair analyst R. Merkel now anticipates that the electronics maker will earn $1.75 per share for the quarter, up from their prior estimate of $1.74.
Other equities analysts have also recently issued research reports about the company. Robert W. Baird cut Acuity Brands from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $212.00 to $178.00 in a report on Tuesday, September 19th. Seaport Global Securities reiterated a “buy” rating and issued a $200.00 target price (down previously from $225.00) on shares of Acuity Brands in a report on Friday, October 6th. Oppenheimer reiterated a “buy” rating and issued a $200.00 target price (down previously from $230.00) on shares of Acuity Brands in a report on Tuesday, October 10th. Wolfe Research cut Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Finally, Roth Capital set a $130.00 target price on Acuity Brands and gave the stock a “sell” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $197.17.
Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.25. The firm had revenue of $957.60 million during the quarter, compared to analysts’ expectations of $975.05 million. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS.
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in shares of Acuity Brands by 661.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock worth $111,000 after acquiring an additional 476 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its stake in shares of Acuity Brands by 11.0% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock worth $119,000 after acquiring an additional 58 shares during the last quarter. QS Investors LLC lifted its stake in shares of Acuity Brands by 1.2% during the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock worth $120,000 after acquiring an additional 7 shares during the last quarter. Israel Discount Bank of New York lifted its stake in shares of Acuity Brands by 32.3% during the 2nd quarter. Israel Discount Bank of New York now owns 615 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 150 shares during the last quarter. Finally, First Bank & Trust lifted its stake in shares of Acuity Brands by 183.7% during the 3rd quarter. First Bank & Trust now owns 746 shares of the electronics maker’s stock worth $128,000 after acquiring an additional 483 shares during the last quarter.
In related news, EVP Mark A. Black sold 7,441 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the completion of the sale, the executive vice president now directly owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.
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Acuity Brands Company Profile
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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