Acuity Brands, Inc. (NYSE:AYI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Acuity Brands, Inc. is comprised of the Acuity Lighting Group and Acuity Specialty Products. The Acuity Lighting Group is the world’s largest lighting fixture manufacturer and includes brands such as Lithonia Lighting, Holophane, Peerless, and Hydrel. Acuity Specialty Products is a leading provider of specialty chemicals and includes brands such as Zep, Enforcer, and Selig. “
A number of other analysts have also recently weighed in on AYI. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $265.00 target price (down from $295.00) on shares of Acuity Brands in a report on Wednesday, January 11th. Wells Fargo & Co reissued an “outperform” rating on shares of Acuity Brands in a report on Wednesday, January 11th. Roth Capital cut shares of Acuity Brands from a “neutral” rating to a “sell” rating and set a $150.00 price objective on the stock. in a report on Friday, January 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Acuity Brands in a report on Tuesday, January 10th. Finally, Cowen and Company set a $285.00 price objective on shares of Acuity Brands and gave the stock a “buy” rating in a report on Tuesday, November 29th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $255.25.
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Shares of Acuity Brands (NYSE:AYI) traded down 1.01% during trading on Monday, reaching $206.23. 375,628 shares of the company’s stock were exchanged. Acuity Brands has a 52 week low of $193.06 and a 52 week high of $280.89. The firm has a market capitalization of $9.03 billion, a PE ratio of 29.80 and a beta of 1.33. The company’s 50-day moving average price is $211.11 and its 200 day moving average price is $235.02.
Acuity Brands (NYSE:AYI) last issued its earnings results on Monday, January 9th. The company reported $2.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.16 by $0.16. The business had revenue of $821.20 million for the quarter. Acuity Brands had a return on equity of 20.71% and a net margin of 8.93%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. Analysts predict that Acuity Brands will post $8.74 EPS for the current fiscal year.
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In other news, Director Ray M. Robinson sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total transaction of $226,809.00. Following the completion of the transaction, the director now owns 1,307 shares in the company, valued at approximately $269,490.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its position in Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the company’s stock valued at $114,000 after buying an additional 76 shares during the period. Assetmark Inc. raised its position in Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock valued at $114,000 after buying an additional 5 shares during the period. Global X Management Co. LLC raised its position in Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the company’s stock valued at $122,000 after buying an additional 258 shares during the period. WFG Advisors LP raised its position in Acuity Brands by 2,896.3% in the fourth quarter. WFG Advisors LP now owns 809 shares of the company’s stock valued at $123,000 after buying an additional 782 shares during the period. Finally, Virtus Investment Advisers Inc. acquired a new position in Acuity Brands during the third quarter valued at $125,000. Institutional investors own 91.28% of the company’s stock.
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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