Short Interest in Acuity, Inc. (NYSE:AYI) Drops By 21.8%

Acuity, Inc. (NYSE:AYI) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 516,401 shares, a drop of 21.8% from the December 15th total of 660,396 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 288,336 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 288,336 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.7% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AYI shares. Wells Fargo & Company increased their price objective on shares of Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. William Blair restated an “outperform” rating on shares of Acuity in a research note on Tuesday, December 30th. Morgan Stanley lowered their price target on Acuity from $425.00 to $410.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Cowen reiterated a “buy” rating on shares of Acuity in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Acuity in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Acuity currently has a consensus rating of “Moderate Buy” and an average price target of $395.17.

Acuity Stock Down 0.1%

Shares of Acuity stock traded down $0.29 during trading hours on Friday, reaching $320.53. 417,571 shares of the company were exchanged, compared to its average volume of 437,138. The firm has a market cap of $9.83 billion, a PE ratio of 24.66, a PEG ratio of 1.72 and a beta of 1.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 2.07. Acuity has a 1 year low of $216.81 and a 1 year high of $380.17. The stock’s fifty day moving average is $357.59 and its 200 day moving average is $340.64.

Acuity (NYSE:AYI) last released its earnings results on Thursday, January 8th. The electronics maker reported $4.69 EPS for the quarter, topping the consensus estimate of $4.45 by $0.24. Acuity had a return on equity of 20.97% and a net margin of 9.04%.The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $3.97 EPS. Acuity’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that Acuity will post 15.86 earnings per share for the current year.

Insider Buying and Selling at Acuity

In other Acuity news, SVP Barry R. Goldman sold 4,489 shares of Acuity stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $365.11, for a total transaction of $1,638,978.79. Following the completion of the sale, the senior vice president directly owned 6,056 shares in the company, valued at $2,211,106.16. This trade represents a 42.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Acuity

Several hedge funds have recently added to or reduced their stakes in AYI. Financial Consulate Inc. acquired a new position in Acuity during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its position in shares of Acuity by 1,100.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 96 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Acuity during the second quarter worth $32,000. Root Financial Partners LLC acquired a new position in shares of Acuity during the third quarter worth $33,000. Finally, Richardson Financial Services Inc. increased its holdings in Acuity by 122.2% in the third quarter. Richardson Financial Services Inc. now owns 100 shares of the electronics maker’s stock valued at $34,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 98.21% of the company’s stock.

Acuity Company Profile

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.