Acuity Brands Inc. (AYI) Trading 1.5% Higher
Acuity Brands Inc. (NYSE:AYI) shares traded up 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.
Several research analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of Acuity Brands in a report on Tuesday, April 19th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $295.00 target price (up previously from $245.00) on shares of Acuity Brands in a report on Thursday, April 7th. Canaccord Genuity increased their price objective on shares of Acuity Brands to $269.00 in a report on Thursday, April 7th. Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Credit Agricole SA reissued an “outperform” rating and set a $270.00 price objective on shares of Acuity Brands in a report on Friday, July 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $274.14.
The firm has a market capitalization of $11.65 billion and a PE ratio of 43.75. The company’s 50-day moving average price is $254.29 and its 200 day moving average price is $231.62.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Wednesday, June 29th. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.03. The firm earned $851.50 million during the quarter. During the same period last year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, analysts expect that Acuity Brands Inc. will post $8.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.19%.
In other Acuity Brands news, Director Ray M. Robinson sold 786 shares of Acuity Brands stock in a transaction on Friday, July 1st. The shares were sold at an average price of $248.55, for a total value of $195,360.30. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $497,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark A. Black sold 2,654 shares of Acuity Brands stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $250.27, for a total transaction of $664,216.58. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in Acuity Brands by 16.1% in the fourth quarter. ProShare Advisors LLC now owns 4,315 shares of the company’s stock worth $1,009,000 after buying an additional 598 shares during the last quarter. Stevens Capital Management LP purchased a new position in Acuity Brands during the fourth quarter worth $1,057,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position 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 worth $1,276,000 after buying an additional 400 shares during the last quarter. Sei Investments Co. boosted its position in Acuity Brands by 15.9% in the fourth quarter. Sei Investments Co. now owns 6,297 shares of the company’s stock worth $1,472,000 after buying an additional 862 shares during the last quarter. Finally, Navellier & Associates Inc boosted its position in Acuity Brands by 4.1% in the fourth quarter. Navellier & Associates Inc now owns 6,334 shares of the company’s stock worth $1,481,000 after buying an additional 250 shares during the last quarter.
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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