Acuity Brands Inc (NYSE:AYI) – Stock analysts at Seaport Global Securities cut their FY2018 EPS estimates for shares of Acuity Brands in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Mccall now anticipates that the electronics maker will earn $8.96 per share for the year, down from their prior estimate of $9.21. Seaport Global Securities currently has a “Buy” rating and a $200.00 target price on the stock.
Other equities analysts also recently issued reports about the company. Robert W. Baird decreased their target price on Acuity Brands from $242.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 4th. Wolfe Research began coverage on Acuity Brands in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $237.00 target price for the company. BidaskClub downgraded Acuity Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. decreased their target price on Acuity Brands from $265.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, July 4th. Finally, Cowen and Company decreased their target price on Acuity Brands from $230.00 to $226.00 and set an “outperform” rating for the company in a research note on Friday, June 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Acuity Brands has an average rating of “Hold” and an average target price of $198.42.
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Shares of Acuity Brands (NYSE:AYI) opened at 174.20 on Monday. The stock’s 50 day moving average is $173.33 and its 200 day moving average is $182.57. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 23.45 and a beta of 1.43. Acuity Brands has a 52-week low of $153.28 and a 52-week high of $261.43.
Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.25. Acuity Brands had a net margin of 9.18% and a return on equity of 20.47%. The firm had revenue of $957.60 million during the quarter, compared to analyst estimates of $975.05 million. During the same quarter in the prior year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Acuity Brands by 661.1% during the second quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock worth $111,000 after buying an additional 476 shares during the period. Seven Bridges Advisors LLC acquired a new position in shares of Acuity Brands during the second quarter worth approximately $117,000. YorkBridge Wealth Partners LLC boosted its position in shares of Acuity Brands by 11.0% during the second quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock worth $119,000 after buying an additional 58 shares during the period. QS Investors LLC boosted its position in shares of Acuity Brands by 1.2% during the second quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock worth $120,000 after buying an additional 7 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Acuity Brands by 7.7% during the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock worth $125,000 after buying an additional 44 shares during the period.
In other news, EVP Mark A. Black sold 5,427 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $205.29, for a total transaction of $1,114,108.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.
Acuity Brands announced that its Board of Directors has approved a stock buyback program on Thursday, June 29th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 annualized dividend and a dividend yield of 0.30%. Acuity Brands’s dividend payout ratio is presently 6.99%.
Acuity Brands Company Profile
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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