Robert W. Baird reiterated their outperform rating on shares of Acuity Brands Inc (NYSE:AYI) in a report published on Monday, June 19th. Robert W. Baird currently has a $206.00 price target on the electronics maker’s stock, down from their previous price target of $210.00.
A number of other equities research analysts have also commented on AYI. Deutsche Bank AG lowered their price target on Acuity Brands from $280.00 to $275.00 and set a buy rating for the company in a research report on Tuesday, March 14th. Zacks Investment Research lowered Acuity Brands from a hold rating to a sell rating in a research report on Monday, March 20th. Roth Capital reissued a sell rating and issued a $150.00 price target on shares of Acuity Brands in a research report on Friday, March 31st. Canaccord Genuity reissued a buy rating on shares of Acuity Brands in a research report on Tuesday, March 28th. Finally, Guggenheim began coverage on Acuity Brands in a research report on Tuesday, April 11th. They set a neutral rating and a $181.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $217.71.
Acuity Brands (NYSE:AYI) traded down 0.25% during midday trading on Monday, hitting $198.53. 572,221 shares of the stock traded hands. Acuity Brands has a 1-year low of $157.33 and a 1-year high of $280.89. The company has a 50-day moving average of $174.08 and a 200-day moving average of $198.22. The stock has a market cap of $8.56 billion, a PE ratio of 27.69 and a beta of 1.42.
Acuity Brands (NYSE:AYI) last issued its earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. Acuity Brands had a return on equity of 19.89% and a net margin of 9.04%. The company had revenue of $891.60 million for the quarter, compared to analyst estimates of $878.66 million. During the same period in the prior year, the firm earned $2.06 earnings per share. Acuity Brands’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Acuity Brands will post $8.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, July 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.26%. Acuity Brands’s dividend payout ratio is presently 7.24%.
In related news, Director Peter C. Browning sold 970 shares of Acuity Brands stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $200.05, for a total transaction of $194,048.50. Following the sale, the director now directly owns 1,000 shares in the company, valued at $200,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new stake in Acuity Brands during the first quarter valued at approximately $3,203,000. Congress Asset Management Co. MA boosted its position in Acuity Brands by 18.5% in the first quarter. Congress Asset Management Co. MA now owns 466,387 shares of the electronics maker’s stock valued at $95,143,000 after buying an additional 72,735 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in Acuity Brands by 118.4% in the first quarter. 1st Global Advisors Inc. now owns 9,372 shares of the electronics maker’s stock worth $1,912,000 after buying an additional 5,081 shares during the period. Nippon Life Global Investors Americas Inc. boosted its stake in Acuity Brands by 77.1% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 74,330 shares of the electronics maker’s stock worth $15,163,000 after buying an additional 32,370 shares during the period. Finally, Allianz Asset Management AG boosted its stake in Acuity Brands by 1.1% in the fourth quarter. Allianz Asset Management AG now owns 107,784 shares of the electronics maker’s stock worth $24,883,000 after buying an additional 1,159 shares during the period. 95.15% of the stock is currently 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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