Traders Buy Shares of Acuity Brands (AYI) on Weakness
Traders purchased shares of Acuity Brands Inc (NYSE:AYI) on weakness during trading hours on Wednesday. $75.82 million flowed into the stock on the tick-up and $57.06 million flowed out of the stock on the tick-down, for a money net flow of $18.76 million into the stock. Of all companies tracked, Acuity Brands had the 29th highest net in-flow for the day. Acuity Brands traded down ($6.79) for the day and closed at $167.44
AYI has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded shares of Acuity Brands from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $225.00 to $185.00 in a research report on Friday, September 15th. KeyCorp began coverage on shares of Acuity Brands in a research note on Friday, October 13th. They set a “sector weight” rating on the stock. BidaskClub cut shares of Acuity Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. JMP Securities upgraded shares of Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 price target on the stock in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $197.17.
The stock has a market capitalization of $7,058.08, a price-to-earnings ratio of 20.98, a P/E/G ratio of 1.76 and a beta of 1.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.07 and a quick ratio of 1.53.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.25. Acuity Brands had a net margin of 9.18% and a return on equity of 20.47%. The company had revenue of $957.60 million for the quarter, compared to analyst estimates of $975.05 million. During the same quarter last year, the firm earned $2.21 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. research analysts forecast that Acuity Brands Inc will post 8.63 EPS for the current year.
In related news, EVP Mark A. Black sold 7,441 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the transaction, the executive vice president now owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System grew its holdings in Acuity Brands by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 110,917 shares of the electronics maker’s stock worth $18,998,000 after acquiring an additional 3,667 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Acuity Brands by 613.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 67,800 shares of the electronics maker’s stock worth $11,613,000 after purchasing an additional 58,300 shares during the period. Caxton Associates LP purchased a new stake in shares of Acuity Brands in the 3rd quarter worth about $856,000. Alyeska Investment Group L.P. lifted its position in shares of Acuity Brands by 34.3% in the 3rd quarter. Alyeska Investment Group L.P. now owns 886,653 shares of the electronics maker’s stock worth $151,866,000 after purchasing an additional 226,605 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Acuity Brands by 9.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,891 shares of the electronics maker’s stock worth $4,092,000 after purchasing an additional 2,000 shares during the period.
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.
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.