Robert W. Baird Reaffirms “Hold” Rating for Acuity Brands (AYI)
Robert W. Baird reaffirmed their hold rating on shares of Acuity Brands (NYSE:AYI) in a research note published on Tuesday. They currently have a $198.00 price target on the electronics maker’s stock.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised Acuity Brands from a sell rating to a hold rating in a research note on Tuesday, December 12th. KeyCorp initiated coverage on Acuity Brands in a research note on Friday, October 13th. They set a sector weight rating on the stock. Wolfe Research lowered Acuity Brands from an outperform rating to a market perform rating in a research note on Monday, October 9th. Wells Fargo & Co lowered Acuity Brands from an outperform rating to a market perform rating and lowered their price objective for the stock from $225.00 to $185.00 in a research note on Friday, September 15th. Finally, Roth Capital set a $130.00 price objective on Acuity Brands and gave the stock a sell rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $196.23.
Acuity Brands (AYI) opened at $158.74 on Tuesday. The firm has a market capitalization of $6,730.00, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.96 and a beta of 1.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.07. Acuity Brands has a 12 month low of $153.28 and a 12 month high of $225.36.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 22nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, January 19th. Acuity Brands’s dividend payout ratio (DPR) is presently 7.14%.
In other news, EVP Mark A. Black sold 7,441 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $161.32, for a total value of $1,200,382.12. Following the transaction, the executive vice president now owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in AYI. BlackRock Inc. lifted its stake in shares of Acuity Brands by 12.8% in the 2nd quarter. BlackRock Inc. now owns 4,260,836 shares of the electronics maker’s stock valued at $866,145,000 after purchasing an additional 484,537 shares during the last quarter. Standard Life Investments LTD lifted its stake in shares of Acuity Brands by 24.9% in the 2nd quarter. Standard Life Investments LTD now owns 1,786,392 shares of the electronics maker’s stock valued at $363,146,000 after purchasing an additional 356,199 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Acuity Brands by 68.1% in the 3rd quarter. American Century Companies Inc. now owns 779,190 shares of the electronics maker’s stock valued at $133,460,000 after purchasing an additional 315,610 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its stake in shares of Acuity Brands by 19.6% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,413,636 shares of the electronics maker’s stock valued at $287,363,000 after purchasing an additional 231,406 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Acuity Brands by 34.3% in the 3rd quarter. Alyeska Investment Group L.P. now owns 886,653 shares of the electronics maker’s stock valued at $151,866,000 after purchasing an additional 226,605 shares during the last quarter.
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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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