Acuity Brands’ (AYI) “Underperform” Rating Reiterated at JMP Securities

Acuity Brands, Inc. (NYSE:AYI)‘s stock had its “underperform” rating reiterated by stock analysts at JMP Securities in a research note issued on Thursday. They presently have a $155.00 target price on the electronics maker’s stock, down from their prior target price of $185.00. JMP Securities’ price target would suggest a potential downside of 12.75% from the company’s current price.

Several other research firms have also recently weighed in on AYI. Roth Capital cut shares of Acuity Brands from a “neutral” rating to a “sell” rating and set a $150.00 target price for the company. in a research note on Friday, January 27th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $215.00 price objective (down from $265.00) on shares of Acuity Brands in a research note on Thursday, April 6th. Robert W. Baird raised shares of Acuity Brands from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $265.00 to $242.00 in a research note on Tuesday, January 10th. Zacks Investment Research raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Finally, Canaccord Genuity dropped their price objective on shares of Acuity Brands from $240.00 to $209.00 and set a “buy” rating for the company in a research note on Wednesday, April 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Acuity Brands presently has an average rating of “Hold” and a consensus target price of $230.86.

Analyst Recommendations for Acuity Brands (NYSE:AYI)

Acuity Brands (NYSE:AYI) traded up 0.15% during trading on Thursday, hitting $177.65. The stock had a trading volume of 611,255 shares. Acuity Brands has a 1-year low of $169.53 and a 1-year high of $280.89. The firm has a 50 day moving average price of $195.27 and a 200-day moving average price of $222.33. The firm has a market capitalization of $7.78 billion, a PE ratio of 25.53 and a beta of 1.33.

Acuity Brands (NYSE:AYI) last posted its earnings results on Tuesday, April 4th. The electronics maker reported $1.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The company had revenue of $804.70 million for the quarter, compared to analysts’ expectations of $827.22 million. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.80 earnings per share. On average, equities research analysts expect that Acuity Brands will post $7.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 17th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, April 12th. This represents a $0.52 annualized dividend and a dividend yield of 0.29%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.50%.

ILLEGAL ACTIVITY NOTICE: “Acuity Brands’ (AYI) “Underperform” Rating Reiterated at JMP Securities” was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.chaffeybreeze.com/2017/04/21/acuity-brands-inc-ayi-given-underperform-rating-at-jmp-securities-updated.html.

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 value of $226,809.00. Following the completion of the sale, the director now owns 1,307 shares in the company, valued at approximately $269,490.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its stake in shares of Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the electronics maker’s stock worth $114,000 after buying an additional 76 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the electronics maker’s stock worth $122,000 after buying an additional 258 shares during the last quarter. Virtus Investment Advisers Inc. bought a new stake in shares of Acuity Brands during the third quarter worth $125,000. Integrated Investment Consultants LLC raised its stake in shares of Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock worth $114,000 after buying an additional 205 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Acuity Brands by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 570 shares of the electronics maker’s stock worth $132,000 after buying an additional 42 shares during the last quarter. 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.

5 Day Chart for NYSE:AYI

Receive News & Ratings for Acuity Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply