Acuity Brands (AYI) Shares Gap Down to $157.95

Acuity Brands, Inc. (NYSE:AYI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $151.90, but opened at $157.95. Acuity Brands shares last traded at $157.80, with a volume of 1676155 shares changing hands.

AYI has been the subject of several research reports. Zacks Investment Research raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. KeyCorp initiated coverage on shares of Acuity Brands in a report on Friday, October 13th. They set a “sector weight” rating for the company. Robert W. Baird cut shares of Acuity Brands from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $212.00 to $178.00 in a report on Tuesday, September 19th. Wolfe Research cut shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Finally, Wells Fargo & Co cut shares of Acuity Brands from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $225.00 to $185.00 in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Acuity Brands currently has an average rating of “Hold” and an average target price of $196.23.

The company has a market capitalization of $6,700.00, a price-to-earnings ratio of 21.84, a P/E/G ratio of 1.96 and a beta of 1.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.07.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Monday, January 22nd will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $0.52 dividend on an annualized basis and a yield of 0.33%. Acuity Brands’s dividend payout ratio is currently 7.14%.

In other Acuity Brands news, EVP Mark A. Black sold 7,441 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were 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 $4,944,296.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Acuity Brands by 2.8% during the second quarter. Vanguard Group Inc. now owns 4,299,432 shares of the electronics maker’s stock valued at $873,989,000 after buying an additional 117,422 shares during the last quarter. BlackRock Inc. boosted its position in shares of Acuity Brands by 12.8% in the second quarter. BlackRock Inc. now owns 4,260,836 shares of the electronics maker’s stock worth $866,145,000 after purchasing an additional 484,537 shares during the period. Standard Life Investments LTD boosted its position in shares of Acuity Brands by 24.9% in the second quarter. Standard Life Investments LTD now owns 1,786,392 shares of the electronics maker’s stock worth $363,146,000 after purchasing an additional 356,199 shares during the period. Atlanta Capital Management Co. L L C boosted its position in shares of Acuity Brands by 19.6% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,413,636 shares of the electronics maker’s stock worth $287,363,000 after purchasing an additional 231,406 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Acuity Brands by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 1,391,291 shares of the electronics maker’s stock worth $282,740,000 after purchasing an additional 11,248 shares during the period.

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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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