JMP Securities Analysts Give Acuity Brands (AYI) a $170.00 Price Target

JMP Securities set a $170.00 target price on Acuity Brands (NYSE:AYI) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the electronics maker’s stock.

A number of other equities research analysts have also recently issued reports on the company. Goldman Sachs Group cut Acuity Brands from a neutral rating to a sell rating and dropped their price objective for the stock from $141.00 to $126.00 in a research note on Wednesday. Robert W. Baird upgraded Acuity Brands from a neutral rating to an outperform rating and set a $185.00 price objective on the stock in a research note on Friday, September 7th. ValuEngine upgraded Acuity Brands from a strong sell rating to a sell rating in a research note on Tuesday, August 28th. Finally, Zacks Investment Research upgraded Acuity Brands from a sell rating to a hold rating in a research note on Tuesday, June 5th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $158.00.

NYSE:AYI opened at $159.10 on Wednesday. Acuity Brands has a twelve month low of $109.98 and a twelve month high of $186.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.65 and a quick ratio of 1.04. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.96 and a beta of 1.42.

Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Tuesday, July 3rd. The electronics maker reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.20. Acuity Brands had a return on equity of 20.49% and a net margin of 9.28%. The company had revenue of $944.10 million for the quarter, compared to analysts’ expectations of $900.46 million. During the same quarter in the prior year, the business posted $2.15 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. sell-side analysts forecast that Acuity Brands will post 8.26 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in AYI. Amalgamated Bank raised its stake in Acuity Brands by 39.8% in the 2nd quarter. Amalgamated Bank now owns 8,151 shares of the electronics maker’s stock valued at $944,000 after acquiring an additional 2,319 shares during the period. Securian Asset Management Inc raised its stake in Acuity Brands by 21.9% in the 2nd quarter. Securian Asset Management Inc now owns 5,096 shares of the electronics maker’s stock valued at $590,000 after acquiring an additional 914 shares during the period. Beacon Investment Advisory Services Inc. bought a new stake in Acuity Brands in the 2nd quarter valued at $361,000. Bank of New York Mellon Corp raised its stake in Acuity Brands by 40.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 522,921 shares of the electronics maker’s stock valued at $60,591,000 after acquiring an additional 151,295 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Acuity Brands by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 64,347 shares of the electronics maker’s stock valued at $8,957,000 after acquiring an additional 1,069 shares during the period.

Acuity Brands Company Profile

Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

Recommended Story: Short Selling Stocks and Day Traders

Analyst Recommendations for Acuity Brands (NYSE:AYI)

Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit