Acuity Brands Inc. (AYI) Stock Price Up 1.5%
Shares of Acuity Brands Inc. (NYSE:AYI) rose 1.5% on Tuesday . The stock traded as high as $267.67 and last traded at $267.67, with a volume of 125,698 shares. The stock had previously closed at $263.69.
AYI has been the subject of several analyst reports. Zacks Investment Research cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a research note on Monday, March 21st. Canaccord Genuity reissued a “buy” rating and issued a $247.00 target price (down from $265.00) on shares of Acuity Brands in a report on Monday, April 4th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $295.00 target price (up from $245.00) on shares of Acuity Brands in a report on Thursday, April 7th. Robert W. Baird reissued a “buy” rating on shares of Acuity Brands in a report on Tuesday, April 19th. Finally, Credit Agricole SA reissued an “outperform” rating and issued a $270.00 target price on shares of Acuity Brands in a report on Friday, July 1st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Acuity Brands presently has a consensus rating of “Buy” and an average target price of $274.14.
The stock’s 50 day moving average is $253.67 and its 200 day moving average is $231.10. The company has a market cap of $11.60 billion and a P/E ratio of 43.56.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $2.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.03. The company had revenue of $851.50 million for the quarter. During the same period in the prior year, the firm posted $1.37 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts anticipate that Acuity Brands Inc. will post $8.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 18th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.52 annualized dividend and a yield of 0.20%.
In other Acuity Brands news, CEO Vernon J. Nagel sold 47,995 shares of the company’s stock in a transaction dated Friday, April 22nd. The shares were sold at an average price of $256.18, for a total transaction of $12,295,359.10. Following the sale, the chief executive officer now directly owns 228,200 shares of the company’s stock, valued at $58,460,276. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard K. Reece sold 33,430 shares of the company’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.
Other large investors have added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in Acuity Brands by 16.1% in the fourth quarter. ProShare Advisors LLC now owns 4,315 shares of the company’s stock valued at $1,009,000 after buying an additional 598 shares during the period. Stevens Capital Management LP acquired a new stake in Acuity Brands during the fourth quarter valued at approximately $1,057,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in Acuity Brands by 7.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 5,456 shares of the company’s stock valued at $1,276,000 after buying an additional 400 shares during the period. Cavalier Investments acquired a new stake in Acuity Brands during the fourth quarter valued at approximately $1,356,000. Finally, Sei Investments Co. increased its stake in Acuity Brands by 15.9% in the fourth quarter. Sei Investments Co. now owns 6,297 shares of the company’s stock valued at $1,472,000 after buying an additional 862 shares during the period.
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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