StockNews.com Initiates Coverage on Acuity Brands (NYSE:AYI)

StockNews.com began coverage on shares of Acuity Brands (NYSE:AYI – Get Rating) in a research note published on Thursday morning. The brokerage issued a strong-buy rating on the electronics maker’s stock.

A number of other research analysts have also recently issued reports on AYI. Wells Fargo & Company lifted their price target on Acuity Brands from $188.00 to $193.00 and gave the company an overweight rating in a report on Thursday, January 5th. Robert W. Baird cut Acuity Brands from an outperform rating to a neutral rating and cut their price target for the company from $200.00 to $190.00 in a report on Friday, December 16th. Finally, UBS Group lifted their price target on Acuity Brands from $170.00 to $180.00 in a report on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $200.00.

Acuity Brands Stock Down 3.5 %

Shares of NYSE AYI opened at $182.15 on Thursday. The stock has a market cap of $5.84 billion, a PE ratio of 16.60, a PEG ratio of 1.50 and a beta of 1.59. The business has a fifty day moving average of $187.23 and a two-hundred day moving average of $178.01. Acuity Brands has a 52-week low of $142.71 and a 52-week high of $202.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.39 and a current ratio of 2.09.

Acuity Brands (NYSE:AYI – Get Rating) last issued its quarterly earnings data on Monday, January 9th. The electronics maker reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.34. The company had revenue of $997.90 million during the quarter, compared to analysts’ expectations of $984.46 million. Acuity Brands had a return on equity of 21.40% and a net margin of 9.11%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $2.85 earnings per share. As a group, equities research analysts expect that Acuity Brands will post 12.4 earnings per share for the current fiscal year.

Acuity Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, February 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.29%. Acuity Brands’s payout ratio is 4.74%.

Insider Buying and Selling

In related news, SVP Barry R. Goldman sold 2,211 shares of Acuity Brands stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $174.31, for a total value of $385,399.41. Following the completion of the sale, the senior vice president now directly owns 5,791 shares in the company, valued at $1,009,429.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Barry R. Goldman sold 2,211 shares of Acuity Brands stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $174.31, for a total value of $385,399.41. Following the completion of the sale, the senior vice president now directly owns 5,791 shares in the company, valued at $1,009,429.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Karen J. Holcom sold 4,238 shares of Acuity Brands stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $174.51, for a total value of $739,573.38. Following the completion of the sale, the chief financial officer now owns 16,856 shares of the company’s stock, valued at $2,941,540.56. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Acuity Brands

Institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in shares of Acuity Brands by 87.3% during the 4th quarter. Quadrant Capital Group LLC now owns 148 shares of the electronics maker’s stock worth $25,000 after buying an additional 69 shares during the period. National Bank of Canada FI acquired a new position in shares of Acuity Brands during the 3rd quarter worth about $26,000. Ronald Blue Trust Inc. grew its position in shares of Acuity Brands by 60.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 165 shares of the electronics maker’s stock worth $26,000 after buying an additional 62 shares during the period. Ellevest Inc. grew its position in shares of Acuity Brands by 52.7% during the 3rd quarter. Ellevest Inc. now owns 197 shares of the electronics maker’s stock worth $31,000 after buying an additional 68 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Acuity Brands during the 4th quarter worth about $33,000. 93.80% of the stock is currently owned by institutional investors and hedge funds.

About Acuity Brands

(Get Rating)

Acuity Brands, Inc operates as an industrial technology company, which engages in the provision of lighting and building management solutions and services. It operates through the Acuity Brands Lighting and Lighting Controls and Intelligent Spaces Group segments. The company was founded in 2001 and is headquartered in Atlanta, GA.