Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Acuity Brands, Inc. (NYSE:AYI) in a report issued on Thursday morning. Oppenheimer Holdings Inc. currently has a $215.00 target price on the electronics maker’s stock, down from their previous target price of $265.00.
A number of other research firms also recently commented on AYI. Roth Capital downgraded Acuity Brands from a neutral rating to a sell rating and set a $150.00 target price on the stock. in a research report on Friday, January 27th. Robert W. Baird raised Acuity Brands from a neutral rating to an outperform rating and cut their price target for the stock from $265.00 to $242.00 in a report on Tuesday, January 10th. Zacks Investment Research raised Acuity Brands from a sell rating to a hold rating in a report on Tuesday, March 14th. Canaccord Genuity cut their price target on Acuity Brands from $240.00 to $209.00 and set a buy rating for the company in a report on Wednesday, April 5th. Finally, Wells Fargo & Co reissued an outperform rating on shares of Acuity Brands in a report on Wednesday, January 11th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Acuity Brands presently has an average rating of Hold and a consensus price target of $230.86.
Shares of Acuity Brands (NYSE:AYI) traded up 0.15% during mid-day trading on Thursday, hitting $177.65. 615,010 shares of the stock were exchanged. Acuity Brands has a 12 month low of $169.53 and a 12 month high of $280.89. The stock’s 50 day moving average is $195.27 and its 200-day moving average is $222.33. The stock has a market cap of $7.78 billion, a PE ratio of 25.53 and a beta of 1.33.
Acuity Brands (NYSE:AYI) last posted its earnings results on Tuesday, April 4th. The electronics maker reported $1.77 EPS for the quarter, missing the Zacks’ consensus estimate of $1.83 by $0.06. The firm had revenue of $804.70 million for the quarter, compared to analysts’ expectations of $827.22 million. Acuity Brands had a return on equity of 20.71% and a net margin of 8.93%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 earnings per share. On average, analysts anticipate that Acuity Brands will post $7.99 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 17th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, April 12th. Acuity Brands’s payout ratio is 7.50%.
In other news, Director Ray M. Robinson sold 1,100 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $206.19, for a total value of $226,809.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $269,490.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AYI. Bronfman E.L. Rothschild L.P. increased its position in shares of Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the electronics maker’s stock worth $114,000 after buying an additional 76 shares in the last quarter. Integrated Investment Consultants LLC increased its position in shares of Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock worth $114,000 after buying an additional 205 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the electronics maker’s stock worth $122,000 after buying an additional 258 shares in the last quarter. WFG Advisors LP increased its position in shares of Acuity Brands by 2,896.3% in the fourth quarter. WFG Advisors LP now owns 809 shares of the electronics maker’s stock worth $123,000 after buying an additional 782 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of Acuity Brands during the third quarter worth approximately $125,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
Acuity Brands Company Profile
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.
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