Acuity (NYSE:AYI) Hits New 52-Week High – Here’s What Happened

Acuity, Inc. (NYSE:AYI)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $380.00 and last traded at $377.97, with a volume of 47766 shares traded. The stock had previously closed at $373.33.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AYI. William Blair reaffirmed an “outperform” rating on shares of Acuity in a research report on Tuesday, December 30th. Morgan Stanley upped their price target on shares of Acuity from $365.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Wells Fargo & Company raised their price objective on shares of Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Zacks Research lowered shares of Acuity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group lifted their target price on Acuity from $312.00 to $356.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Acuity presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.17.

Acuity Price Performance

The business’s 50 day simple moving average is $362.67 and its 200-day simple moving average is $337.72. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.95.

Insider Buying and Selling

In related news, SVP Barry R. Goldman sold 4,489 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $365.11, for a total value of $1,638,978.79. Following the completion of the sale, the senior vice president owned 6,056 shares in the company, valued at approximately $2,211,106.16. This represents a 42.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AYI. GAMMA Investing LLC lifted its position in shares of Acuity by 17.7% in the fourth quarter. GAMMA Investing LLC now owns 1,088 shares of the electronics maker’s stock worth $392,000 after buying an additional 164 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Acuity in the third quarter worth $6,762,000. Allworth Financial LP boosted its position in shares of Acuity by 19.6% during the 3rd quarter. Allworth Financial LP now owns 550 shares of the electronics maker’s stock valued at $189,000 after acquiring an additional 90 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Acuity by 2.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 22,297 shares of the electronics maker’s stock worth $7,679,000 after buying an additional 630 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Acuity by 1.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 15,016 shares of the electronics maker’s stock worth $5,171,000 after purchasing an additional 177 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

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.