Acuity Brands Inc. (AYI) Given a $272.00 Price Target at Robert W. Baird
AYI has been the subject of a number of other research reports. DA Davidson reiterated a hold rating and issued a $255.00 price objective on shares of Acuity Brands in a research report on Tuesday. Oppenheimer Holdings Inc. reiterated a buy rating and issued a $295.00 price objective on shares of Acuity Brands in a research report on Thursday, June 30th. Credit Agricole SA reiterated an outperform rating and issued a $270.00 price objective on shares of Acuity Brands in a research report on Friday, July 1st. Canaccord Genuity upgraded Acuity Brands from a hold rating to a buy rating and reduced their price objective for the stock from $305.00 to $286.00 in a research report on Thursday. Finally, Zacks Investment Research downgraded Acuity Brands from a buy rating to a hold rating in a research report on Tuesday, August 30th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Acuity Brands has an average rating of Buy and an average price target of $277.64.
Shares of Acuity Brands (NYSE:AYI) traded down 1.16% during midday trading on Thursday, hitting $241.13. The stock had a trading volume of 559,647 shares. The firm has a market cap of $10.49 billion, a PE ratio of 39.39 and a beta of 1.46. The firm has a 50-day moving average of $265.67 and a 200 day moving average of $255.49. Acuity Brands has a 12-month low of $169.42 and a 12-month high of $280.89.
Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.39 by $0.18. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. The business had revenue of $925.50 million for the quarter. During the same period last year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, analysts expect that Acuity Brands will post $9.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.21%. Acuity Brands’s dividend payout ratio is 7.83%.
In related news, CFO Richard K. Reece sold 33,430 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $269.07, for a total transaction of $8,995,010.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vernon J. Nagel sold 65,060 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were 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. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Copper Rock Capital Partners LLC boosted its stake in Acuity Brands by 10.5% in the third quarter. Copper Rock Capital Partners LLC now owns 2,283 shares of the company’s stock worth $595,000 after buying an additional 217 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Acuity Brands by 1.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 2,135 shares of the company’s stock valued at $565,000 after buying an additional 40 shares during the period. Bath Savings Trust Co purchased a new stake in Acuity Brands during the third quarter valued at approximately $695,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Acuity Brands during the second quarter valued at approximately $439,000. Finally, Kentucky Retirement Systems purchased a new stake in Acuity Brands during the second quarter valued at approximately $924,000. 93.26% of the stock is owned by hedge funds and other institutional investors.
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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