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.
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.
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.
Receive News & Ratings for Acuity Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc. and related companies with our FREE daily email newsletter.