Analysts at KeyCorp started coverage on shares of Acuity Brands Inc (NYSE:AYI) in a research note issued on Friday. The brokerage set a “sector weight” rating on the electronics maker’s stock.

Other analysts have also issued reports about the company. Robert W. Baird decreased their price target on Acuity Brands from $242.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 4th. Wolfe Research assumed coverage on Acuity Brands in a report on Tuesday, July 11th. They issued an “outperform” rating and a $237.00 price objective on the stock. BidaskClub downgraded Acuity Brands from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. cut their price objective on Acuity Brands from $265.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, July 4th. Finally, Cowen and Company cut their price objective on Acuity Brands from $230.00 to $226.00 and set an “outperform” rating on the stock in a report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $197.17.

Shares of Acuity Brands (AYI) opened at 162.53 on Friday. Acuity Brands has a one year low of $153.28 and a one year high of $261.43. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 21.87 and a beta of 1.43. The company has a 50-day moving average of $171.63 and a 200 day moving average of $181.16.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $957.60 million for the quarter, compared to analyst estimates of $975.05 million. During the same period last year, the company earned $2.21 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Acuity Brands will post $9.07 earnings per share for the current fiscal year.

Acuity Brands announced that its board has initiated a stock repurchase program on Thursday, June 29th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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A number of hedge funds have recently bought and sold shares of AYI. Tower Research Capital LLC TRC increased its holdings in Acuity Brands by 661.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock worth $111,000 after purchasing an additional 476 shares during the last quarter. Seven Bridges Advisors LLC purchased a new stake in Acuity Brands during the 2nd quarter worth approximately $117,000. YorkBridge Wealth Partners LLC increased its holdings in Acuity Brands by 11.0% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock worth $119,000 after purchasing an additional 58 shares during the last quarter. QS Investors LLC increased its holdings in Acuity Brands by 1.2% during the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock worth $120,000 after purchasing an additional 7 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Acuity Brands by 7.7% during the 1st quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock worth $125,000 after purchasing 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.

Analyst Recommendations for Acuity Brands (NYSE:AYI)

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