Acuity (NYSE:AYI) Price Target Raised to $435.00

Acuity (NYSE:AYI) had its price target hoisted by Oppenheimer from $380.00 to $435.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the electronics maker’s stock.

Other equities analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Acuity from a “buy” rating to a “strong-buy” rating in a report on Friday, June 27th. TD Cowen raised their target price on Acuity from $330.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley upped their price target on Acuity from $335.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. Robert W. Baird increased their price target on Acuity from $335.00 to $360.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Finally, Wells Fargo & Company lifted their price objective on Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a research note on Thursday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Acuity presently has a consensus rating of “Moderate Buy” and an average price target of $395.17.

Acuity Stock Down 0.9%

Shares of NYSE AYI opened at $353.00 on Thursday. The company has a 50 day simple moving average of $328.66 and a 200 day simple moving average of $288.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.95 and a quick ratio of 1.38. Acuity has a 1 year low of $216.81 and a 1 year high of $375.67. The firm has a market cap of $10.82 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.96 and a beta of 1.64.

Acuity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 17th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 17th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Acuity’s dividend payout ratio is presently 5.43%.

Hedge Funds Weigh In On Acuity

Institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Acuity by 192.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,615 shares of the electronics maker’s stock worth $1,640,000 after buying an additional 3,697 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Acuity by 82.7% during the 1st quarter. Merit Financial Group LLC now owns 1,451 shares of the electronics maker’s stock valued at $382,000 after acquiring an additional 657 shares during the period. Matrix Trust Co boosted its stake in Acuity by 69.4% during the first quarter. Matrix Trust Co now owns 520 shares of the electronics maker’s stock worth $137,000 after acquiring an additional 213 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in Acuity by 3.2% in the first quarter. Gateway Investment Advisers LLC now owns 1,526 shares of the electronics maker’s stock worth $402,000 after purchasing an additional 47 shares during the period. Finally, UMB Bank n.a. increased its stake in Acuity by 45.3% in the first quarter. UMB Bank n.a. now owns 250 shares of the electronics maker’s stock valued at $66,000 after purchasing an additional 78 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Acuity Company Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.