A number of other analysts also recently commented on AYI. JMP Securities started coverage on Acuity Brands in a report on Thursday, December 8th. They set an underperform rating and a $200.00 price objective for the company. Robert W. Baird downgraded Acuity Brands from an outperform rating to a neutral rating and dropped their price objective for the stock from $272.00 to $265.00 in a report on Tuesday, December 20th. Oppenheimer Holdings Inc. restated an outperform rating and set a $295.00 price objective on shares of Acuity Brands in a report on Thursday, December 22nd. Canaccord Genuity reiterated a buy rating and issued a $240.00 price target on shares of Acuity Brands in a report on Tuesday, January 10th. Finally, Wells Fargo & Co reiterated an outperform rating on shares of Acuity Brands in a report on Wednesday, January 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $230.86.
Acuity Brands (NYSE:AYI) opened at 177.39 on Thursday. Acuity Brands has a 12 month low of $169.53 and a 12 month high of $280.89. The firm’s 50-day moving average is $195.27 and its 200-day moving average is $222.33. The company has a market capitalization of $7.77 billion, a PE ratio of 25.49 and a beta of 1.33.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Tuesday, April 4th. The electronics maker reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by $0.06. The firm had revenue of $804.70 million for the quarter, compared to analyst estimates of $827.22 million. Acuity Brands had a return on equity of 20.71% and a net margin of 8.93%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.80 earnings per share. Equities analysts anticipate that Acuity Brands will post $7.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 17th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, April 12th. This represents a $0.52 annualized dividend and a dividend yield of 0.29%. Acuity Brands’s payout ratio is 7.50%.
In other news, Director Ray M. Robinson sold 1,100 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total transaction of $226,809.00. Following the transaction, the director now owns 1,307 shares of the company’s stock, valued at $269,490.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently modified their holdings of AYI. FMR LLC boosted its position in shares of Acuity Brands by 20.6% in the fourth quarter. FMR LLC now owns 2,703,383 shares of the electronics maker’s stock valued at $624,102,000 after buying an additional 461,571 shares during the last quarter. Congress Asset Management Co. MA bought a new position in shares of Acuity Brands during the fourth quarter valued at approximately $90,878,000. Thrivent Financial for Lutherans boosted its position in shares of Acuity Brands by 25,047.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 357,090 shares of the electronics maker’s stock valued at $82,438,000 after buying an additional 355,670 shares during the last quarter. Norges Bank bought a new position in shares of Acuity Brands during the fourth quarter valued at approximately $70,102,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Acuity Brands during the fourth quarter valued at approximately $61,140,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.
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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