Acuity (NYSE:AYI) Given New $435.00 Price Target at Oppenheimer

Acuity (NYSE:AYI) had its target price increased by Oppenheimer from $380.00 to $435.00 in a report released on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the electronics maker’s stock.

A number of other analysts have also commented on AYI. Robert W. Baird boosted their price target on shares of Acuity from $335.00 to $360.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. TD Cowen lifted their price objective on shares of Acuity from $330.00 to $390.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley raised their price target on shares of Acuity from $335.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. Finally, Wall Street Zen raised Acuity from a “buy” rating to a “strong-buy” rating in a report on Friday, June 27th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $395.17.

Acuity Trading Down 0.9%

NYSE AYI opened at $353.00 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.33. Acuity has a 52 week low of $216.81 and a 52 week high of $375.67. The business has a 50 day moving average price of $328.66 and a 200-day moving average price of $288.52. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.96 and a beta of 1.64.

Acuity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 17th will be paid a $0.17 dividend. The ex-dividend date is Friday, October 17th. This represents a $0.68 annualized dividend and a yield of 0.2%. Acuity’s dividend payout ratio (DPR) is 5.43%.

Hedge Funds Weigh In On Acuity

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Acuity by 192.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,615 shares of the electronics maker’s stock valued at $1,640,000 after acquiring an additional 3,697 shares during the last quarter. Merit Financial Group LLC boosted its position in Acuity by 82.7% in the first quarter. Merit Financial Group LLC now owns 1,451 shares of the electronics maker’s stock worth $382,000 after purchasing an additional 657 shares during the last quarter. Matrix Trust Co grew its stake in Acuity by 69.4% in the 1st quarter. Matrix Trust Co now owns 520 shares of the electronics maker’s stock valued at $137,000 after purchasing an additional 213 shares during the period. Gateway Investment Advisers LLC grew its stake in Acuity by 3.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 1,526 shares of the electronics maker’s stock valued at $402,000 after purchasing an additional 47 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Acuity by 45.3% during the 1st quarter. UMB Bank n.a. now owns 250 shares of the electronics maker’s stock valued at $66,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Acuity Company Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.