Acuity Brands Inc. (AYI) Rating Reiterated by Oppenheimer Holdings Inc.
Acuity Brands Inc. (NYSE:AYI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer Holdings Inc. in a report issued on Friday. They currently have a $295.00 price target on the stock. Oppenheimer Holdings Inc.’s target price points to a potential upside of 12.28% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Roth Capital initiated coverage on shares of Acuity Brands in a research note on Thursday, August 25th. They set a “neutral” rating and a $275.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Credit Agricole SA reiterated an “outperform” rating and set a $270.00 target price on shares of Acuity Brands in a research note on Friday, July 1st. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research note on Wednesday, June 29th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Acuity Brands currently has an average rating of “Buy” and an average target price of $274.25.
Shares of Acuity Brands (NYSE:AYI) opened at 262.73 on Friday. The company’s 50-day moving average price is $270.23 and its 200 day moving average price is $252.29. Acuity Brands has a 1-year low of $168.33 and a 1-year high of $280.89. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 42.92 and a beta of 1.61.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Wednesday, June 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.03. The business had revenue of $851.50 million for the quarter. Acuity Brands had a return on equity of 20.66% and a net margin of 8.57%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company posted $1.37 earnings per share. On average, analysts predict that Acuity Brands will post $8.01 earnings per share for the current fiscal year.
In other Acuity Brands news, Director Ray M. Robinson sold 786 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $248.55, for a total value of $195,360.30. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $497,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vernon J. Nagel sold 65,060 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Acuity Brands during the second quarter worth about $153,000. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Acuity Brands during the second quarter worth about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Acuity Brands during the second quarter worth about $174,000. Point72 Asia Hong Kong Ltd raised its stake in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock worth $174,000 after buying an additional 500 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock worth $191,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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