Acuity Brands Inc. (AYI) Receives New Coverage from Analysts at Williams Capital
Williams Capital started coverage on shares of Acuity Brands Inc. (NYSE:AYI) in a report released on Friday, StockTargetPrices.com reports. The brokerage set a “buy” rating and a $306.00 price target on the stock. Williams Capital’s price objective would suggest a potential upside of 17.51% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Canaccord Genuity restated a “buy” rating and set a $305.00 price target on shares of Acuity Brands in a research report on Friday, September 23rd. Oppenheimer Holdings Inc. restated a “buy” rating and set a $295.00 price target on shares of Acuity Brands in a research report on Thursday, June 30th. Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price target on the stock in a research report on Friday, June 24th. Roth Capital initiated coverage on shares of Acuity Brands in a research report on Thursday, August 25th. They set a “neutral” rating and a $275.00 price target on the stock. Finally, William Blair restated an “outperform” rating on shares of Acuity Brands in a research report on Monday, July 25th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $281.78.
Acuity Brands (NYSE:AYI) opened at 260.41 on Friday. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89. The stock’s 50 day moving average is $268.70 and its 200-day moving average is $254.29. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 42.54 and a beta of 1.61.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, June 29th. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.03. The business earned $851.50 million during the quarter. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. On average, equities research analysts expect that Acuity Brands will post $8.02 earnings per share for the current year.
In other Acuity Brands news, CEO Vernon J. Nagel sold 65,060 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $268.30, for a total value of $17,455,598.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard K. Reece sold 33,430 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $269.07, for a total transaction of $8,995,010.10. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of AYI. Meeder Asset Management Inc. bought a new stake in Acuity Brands during the second quarter worth about $153,000. Mizuho Asset Management Co. Ltd. bought a new stake in Acuity Brands during the second quarter worth about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Acuity Brands during the second quarter worth about $174,000. Point72 Asia Hong Kong Ltd increased its stake in 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 period. Finally, Pacer Advisors Inc. increased its stake in 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 period. Institutional investors own 93.26% 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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