Analysts Set Acuity Brands Inc (AYI) PT at $265.25
Shares of Acuity Brands Inc (NYSE:AYI) have been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $263.91.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Acuity Brands from a “hold” rating to a “sell” rating in a research note on Friday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $265.00 price target (down previously from $295.00) on shares of Acuity Brands in a research note on Wednesday. Wells Fargo & Company reissued an “outperform” rating on shares of Acuity Brands in a research note on Wednesday. Robert W. Baird raised Acuity Brands from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $265.00 to $242.00 in a research note on Tuesday. Finally, Canaccord Genuity reissued a “buy” rating and set a $240.00 price target on shares of Acuity Brands in a research note on Tuesday.
A number of hedge funds have recently made changes to their positions in AYI. Bronfman E.L. Rothschild L.P. increased its stake in shares of Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the company’s stock valued at $114,000 after buying an additional 76 shares in the last quarter. Assetmark Inc. increased its stake in shares of Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock valued at $114,000 after buying an additional 5 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the company’s stock valued at $122,000 after buying an additional 258 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in shares of Acuity Brands during the third quarter valued at $125,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Acuity Brands during the second quarter valued at $153,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
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Acuity Brands (NYSE:AYI) opened at 215.18 on Wednesday. The company has a 50-day moving average price of $238.47 and a 200-day moving average price of $252.26. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 31.10 and a beta of 1.37. Acuity Brands has a 12-month low of $169.42 and a 12-month high of $280.89.
Acuity Brands (NYSE:AYI) last posted its earnings results on Monday, January 9th. The company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by $0.16. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The company earned $821.20 million during the quarter. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that Acuity Brands will post $8.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Monday, January 23rd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $0.52 annualized dividend and a yield of 0.24%. Acuity Brands’s dividend payout ratio is currently 7.50%.
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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