Acuity Brands Inc (NYSE:AYI) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “market perform” rating in a report issued on Monday.
AYI has been the subject of a number of other research reports. Wells Fargo & Company cut Acuity Brands from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $225.00 to $185.00 in a research report on Friday, September 15th. BidaskClub cut Acuity Brands from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Roth Capital set a $150.00 price objective on Acuity Brands and gave the stock a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research cut Acuity Brands from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, JMP Securities reiterated an “underperform” rating and set a $183.00 price objective (up previously from $170.00) on shares of Acuity Brands in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $197.17.
Acuity Brands (AYI) opened at 168.79 on Monday. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 22.72 and a beta of 1.43. Acuity Brands has a 1-year low of $153.28 and a 1-year high of $261.43. The company has a 50-day moving average of $172.90 and a 200-day moving average of $181.81.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The company had revenue of $957.60 million during the quarter, compared to the consensus estimate of $975.05 million. During the same quarter last year, the company earned $2.21 earnings per share. Acuity Brands’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Acuity Brands will post $9.14 earnings per share for the current fiscal year.
Acuity Brands declared that its board has authorized a stock repurchase plan on Thursday, June 29th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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In related 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AYI. Tower Research Capital LLC TRC increased its holdings in shares of Acuity Brands by 661.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock valued at $111,000 after acquiring an additional 476 shares during the last quarter. Seven Bridges Advisors LLC bought a new stake in shares of Acuity Brands in the 2nd quarter valued at approximately $117,000. YorkBridge Wealth Partners LLC increased its holdings in shares of Acuity Brands by 11.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock valued at $119,000 after acquiring an additional 58 shares during the last quarter. QS Investors LLC increased its holdings in shares of Acuity Brands by 1.2% in the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 7 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Acuity Brands by 7.7% in the 1st quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock valued at $125,000 after acquiring an additional 44 shares during the last quarter.
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.
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