A number of other brokerages also recently weighed in on AYI. JMP Securities restated an underperform rating and set a $155.00 price objective (down previously from $185.00) on shares of Acuity Brands in a research report on Thursday, April 6th. Oppenheimer Holdings Inc. restated an outperform rating and set a $215.00 price objective (down previously from $265.00) on shares of Acuity Brands in a research report on Thursday, April 6th. Robert W. Baird lowered their price objective on shares of Acuity Brands from $242.00 to $200.00 and set an outperform rating on the stock in a research report on Thursday, April 6th. Deutsche Bank AG lowered their price objective on shares of Acuity Brands from $275.00 to $245.00 and set a buy rating on the stock in a research report on Wednesday, April 5th. Finally, Canaccord Genuity lowered their price objective on shares of Acuity Brands from $240.00 to $209.00 and set a buy rating on the stock in a research report on Wednesday, April 5th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $230.86.
Shares of Acuity Brands (NYSE:AYI) traded up 0.15% during mid-day trading on Thursday, reaching $177.65. The company’s stock had a trading volume of 615,010 shares. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 25.53 and a beta of 1.33. Acuity Brands has a 12 month low of $169.53 and a 12 month high of $280.89. The company’s 50-day moving average is $195.27 and its 200 day moving average is $222.33.
Acuity Brands (NYSE:AYI) last posted its quarterly 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. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The firm had revenue of $804.70 million for the quarter, compared to analysts’ expectations of $827.22 million. During the same quarter in the previous year, the company earned $1.80 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Acuity Brands will post $7.99 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 17th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, April 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.29%. Acuity Brands’s payout ratio is currently 7.50%.
In other Acuity Brands news, Director Ray M. Robinson sold 1,100 shares of Acuity Brands stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total value of $226,809.00. Following the completion of the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $269,490.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in Acuity Brands by 2.0% in the third quarter. Bank of Montreal Can now owns 121,386 shares of the electronics maker’s stock worth $32,120,000 after buying an additional 2,430 shares in the last quarter. 1st Global Advisors Inc. boosted its position in Acuity Brands by 167.6% in the third quarter. 1st Global Advisors Inc. now owns 3,594 shares of the electronics maker’s stock worth $951,000 after buying an additional 2,251 shares in the last quarter. Nationwide Fund Advisors boosted its position in Acuity Brands by 5.9% in the third quarter. Nationwide Fund Advisors now owns 144,706 shares of the electronics maker’s stock worth $38,289,000 after buying an additional 8,062 shares in the last quarter. Parkwood LLC purchased a new position in Acuity Brands during the third quarter worth approximately $280,000. Finally, Cue Financial Group Inc. boosted its position in Acuity Brands by 196.6% in the third quarter. Cue Financial Group Inc. now owns 3,025 shares of the electronics maker’s stock worth $800,000 after buying an additional 2,005 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
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.
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