Trade Report: Today, Deutsche Bank AG Begins Coverage on Acuity Brands Inc. (AYI)

Today, Deutsche Bank AG Begins Coverage on Acuity Brands Inc. (AYI)

Deutsche Bank AG initiated coverage on shares of Acuity Brands Inc. (NYSE:AYI) in a research report sent to investors on Tuesday morning. The brokerage issued a buy rating and a $300.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Roth Capital set a $275.00 price objective on shares of Acuity Brands and gave the stock a hold rating in a research report on Saturday, October 1st. Zacks Investment Research downgraded shares of Acuity Brands from a buy rating to a hold rating in a research report on Tuesday, August 30th. Canaccord Genuity raised shares of Acuity Brands from a hold rating to a buy rating and reduced their price objective for the stock from $305.00 to $286.00 in a research report on Thursday, October 6th. William Blair reaffirmed an outperform rating on shares of Acuity Brands in a research report on Monday, July 25th. Finally, Williams Capital assumed coverage on shares of Acuity Brands in a research report on Friday, September 30th. They issued a buy rating and a $306.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $278.67.

Acuity Brands (NYSE:AYI) opened at 254.78 on Tuesday. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The company has a market capitalization of $11.04 billion, a PE ratio of 38.43 and a beta of 1.34. The stock’s 50 day moving average is $240.65 and its 200 day moving average is $255.39.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The firm earned $925.50 million during the quarter. During the same period last year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, analysts anticipate that Acuity Brands will post $9.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Friday, October 14th. Acuity Brands’s payout ratio is currently 7.83%.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Acuity Brands by 0.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,794,946 shares of the company’s stock valued at $739,543,000 after buying an additional 9,552 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 in the last quarter. State Street Corp boosted its stake in 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 in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in Acuity Brands by 0.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,340,361 shares of the company’s stock valued at $332,356,000 after buying an additional 5,525 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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