Acuity Brands’ (AYI) “Outperform” Rating Reiterated at Oppenheimer Holdings Inc.
Other research analysts have also issued research reports about the stock. Canaccord Genuity reiterated a buy rating on shares of Acuity Brands in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Acuity Brands from a hold rating to a buy rating and set a $285.00 price objective for the company in a report on Friday, June 24th. Roth Capital initiated coverage on shares of Acuity Brands in a report on Thursday, August 25th. They issued a neutral rating and a $275.00 price objective for the company. William Blair reiterated an outperform rating on shares of Acuity Brands in a report on Monday, July 25th. Finally, Credit Agricole SA restated an outperform rating and set a $270.00 price target on shares of Acuity Brands in a report on Friday, July 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Acuity Brands presently has an average rating of Buy and a consensus target price of $274.25.
Shares of Acuity Brands (NYSE:AYI) opened at 253.58 on Friday. Acuity Brands has a 12 month low of $168.33 and a 12 month high of $280.89. The stock has a 50 day moving average of $269.98 and a 200-day moving average of $252.53. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 41.43 and a beta of 1.61.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.03. The business earned $851.50 million during the quarter. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS. On average, analysts forecast that Acuity Brands will post $8.01 EPS for the current year.
In other news, Director Ray M. Robinson sold 786 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $248.55, for a total transaction of $195,360.30. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $497,100. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark A. Black sold 2,654 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $250.27, for a total transaction of $664,216.58. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in AYI. Vanguard Group Inc. increased its stake in shares of Acuity Brands by 21.0% in the second quarter. Vanguard Group Inc. now owns 3,830,254 shares of the company’s stock valued at $949,749,000 after buying an additional 663,791 shares during the period. Norges Bank bought a new stake in shares of Acuity Brands during the fourth quarter valued at approximately $133,214,000. JPMorgan Chase & Co. increased its stake in shares of Acuity Brands by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 2,311,317 shares of the company’s stock valued at $573,116,000 after buying an additional 196,804 shares during the period. State Street Corp increased its stake in shares of Acuity Brands by 13.2% in the second quarter. State Street Corp now owns 1,619,301 shares of the company’s stock valued at $401,529,000 after buying an additional 188,661 shares during the period. Finally, Janus Capital Management LLC increased its stake in shares of Acuity Brands by 56.5% in the second quarter. Janus Capital Management LLC now owns 470,533 shares of the company’s stock valued at $116,673,000 after buying an additional 169,833 shares during the period. 93.26% of the stock is owned by institutional investors.
About Acuity Brands
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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