Acuity (NYSE:AYI) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Acuity (NYSE:AYI) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Several other research firms have also weighed in on AYI. The Goldman Sachs Group increased their price target on shares of Acuity from $312.00 to $356.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Zacks Research cut shares of Acuity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. William Blair restated an “outperform” rating on shares of Acuity in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Acuity in a research note on Monday, December 29th. Finally, Cowen reissued a “buy” rating on shares of Acuity in a report on Thursday, October 2nd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Acuity has a consensus rating of “Moderate Buy” and an average target price of $395.17.

Acuity Price Performance

Shares of NYSE AYI opened at $315.96 on Friday. The company has a market capitalization of $9.69 billion, a PE ratio of 24.30, a PEG ratio of 1.75 and a beta of 1.50. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $360.71 and its 200-day moving average price is $340.38. Acuity has a twelve month low of $216.81 and a twelve month high of $380.17.

Acuity (NYSE:AYI) last issued its quarterly earnings results on Thursday, January 8th. The electronics maker reported $4.69 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.24. Acuity had a return on equity of 20.97% and a net margin of 9.04%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $3.97 earnings per share. Acuity’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities analysts anticipate that Acuity will post 15.86 EPS for the current year.

Insider Buying and Selling at Acuity

In related news, SVP Barry R. Goldman sold 4,687 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $368.01, for a total transaction of $1,724,862.87. Following the sale, the senior vice president directly owned 10,545 shares in the company, valued at approximately $3,880,665.45. The trade was a 30.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Financial Consulate Inc. bought a new position in shares of Acuity in the third quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its stake in Acuity by 1,100.0% in 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 in the last quarter. Root Financial Partners LLC purchased a new stake in Acuity in the 3rd quarter worth approximately $33,000. Richardson Financial Services Inc. boosted its holdings in Acuity by 122.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 100 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 55 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Acuity by 5,200.0% during the 3rd quarter. True Wealth Design LLC now owns 106 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors 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.