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.
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%.
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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 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.
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