Acuity (NYSE:AYI) Price Target Raised to $356.00

Acuity (NYSE:AYI) had its target price raised by The Goldman Sachs Group from $312.00 to $356.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the electronics maker’s stock.

AYI has been the topic of several other research reports. Wells Fargo & Company upped their price target on shares of Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley boosted their target price on Acuity from $365.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday. Cowen reaffirmed a “buy” rating on shares of Acuity in a report on Thursday. Oppenheimer lifted their price target on Acuity from $380.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird upped their price objective on shares of Acuity from $335.00 to $360.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Acuity currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.17.

Acuity Stock Performance

Acuity stock opened at $353.00 on Thursday. The firm’s 50 day simple moving average is $328.66 and its 200 day simple moving average is $288.52. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $10.82 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.96 and a beta of 1.64. Acuity has a 1-year low of $216.81 and a 1-year high of $375.67.

Acuity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 17th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 17th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Acuity’s dividend payout ratio is 5.43%.

Institutional Trading of Acuity

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Acuity by 1,100.0% during the second quarter. Hantz Financial Services Inc. now owns 96 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Acuity in the 2nd quarter valued at $32,000. Cullen Frost Bankers Inc. grew its holdings in shares of Acuity by 525.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 105 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Acuity in the 2nd quarter worth $36,000. Finally, Golden State Wealth Management LLC raised its position in Acuity by 3,175.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 131 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Acuity Company Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.