Acuity Brands, Inc. (AYI) Receives Outperform Rating from Robert W. Baird

Acuity Brands, Inc. (NYSE:AYI)‘s stock had its “outperform” rating reissued by investment analysts at Robert W. Baird in a report issued on Monday. They currently have a $206.00 price objective on the electronics maker’s stock, down from their previous price objective of $210.00. Robert W. Baird’s price target would indicate a potential upside of 15.52% from the stock’s current price.

AYI has been the subject of a number of other research reports. Roth Capital set a $150.00 target price on shares of Acuity Brands and gave the company a “sell” rating in a research report on Wednesday, March 22nd. Canaccord Genuity reaffirmed a “buy” rating on shares of Acuity Brands in a report on Tuesday, March 28th. Zacks Investment Research cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a report on Monday, March 20th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $215.00 price target (down previously from $245.00) on shares of Acuity Brands in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Acuity Brands presently has a consensus rating of “Buy” and an average target price of $221.60.

Analyst Recommendations for Acuity Brands (NYSE:AYI)

Shares of Acuity Brands (AYI) traded up 1.04% during trading on Monday, reaching $178.32. 539,130 shares of the company were exchanged. The company’s 50-day moving average is $174.96 and its 200 day moving average is $202.90. Acuity Brands has a 1-year low of $157.33 and a 1-year high of $280.89. The firm has a market capitalization of $7.81 billion, a PE ratio of 25.62 and a beta of 1.37.

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. Acuity Brands had a net margin of 8.36% and a return on equity of 15.27%. The firm had revenue of $804.70 million for the quarter, compared to analysts’ expectations of $827.22 million. During the same period in the previous year, the company earned $1.80 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that Acuity Brands will post $8.03 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of AYI. Clearbridge Investments LLC boosted its position in shares of Acuity Brands by 16.6% in the first quarter. Clearbridge Investments LLC now owns 90,556 shares of the electronics maker’s stock valued at $18,473,000 after buying an additional 12,868 shares during the period. UBS Oconnor LLC acquired a new position in shares of Acuity Brands during the first quarter valued at about $9,333,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Acuity Brands by 5.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 5,570 shares of the electronics maker’s stock valued at $1,136,000 after buying an additional 270 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of Acuity Brands during the first quarter valued at about $773,000. Finally, Cambridge Trust Co. acquired a new position in shares of Acuity Brands during the first quarter valued at about $413,000. 95.15% of the stock is owned by hedge funds and other institutional investors.

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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