Acuity Brands Inc. (NYSE:AYI) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $286.00 price objective on the stock, down from their previous price objective of $305.00. Canaccord Genuity’s target price suggests a potential upside of 18.80% from the stock’s previous close.
A number of other equities analysts also recently issued reports on AYI. Roth Capital set a $275.00 price target on Acuity Brands and gave the stock a “hold” rating in a research note on Saturday, October 1st. Credit Agricole SA restated an “outperform” rating and issued a $270.00 price target on shares of Acuity Brands in a research note on Friday, July 1st. William Blair restated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Zacks Investment Research upgraded Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price target on the stock in a research note on Friday, June 24th. Finally, Williams Capital began coverage on Acuity Brands in a research note on Friday, September 30th. They issued a “buy” rating and a $306.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $275.36.
Acuity Brands (NYSE:AYI) opened at 240.74 on Thursday. Acuity Brands has a 52-week low of $169.42 and a 52-week high of $280.89. The stock has a market capitalization of $10.52 billion, a PE ratio of 36.31 and a beta of 1.46. The company’s 50-day moving average price is $264.61 and its 200 day moving average price is $255.63.
Acuity Brands (NYSE:AYI) last released its quarterly earnings results 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. The firm earned $925.50 million during the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. Acuity Brands’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS. Equities analysts forecast that Acuity Brands will post $9.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.22%. Acuity Brands’s dividend payout ratio is presently 7.83%.
A number of large investors have recently bought and sold shares of the stock. Cupps Capital Management LLC boosted its stake in Acuity Brands by 13,618.2% in the first quarter. Cupps Capital Management LLC now owns 4,527 shares of the company’s stock worth $987,000 after buying an additional 4,494 shares in the last quarter. BB&T Securities LLC boosted its stake in Acuity Brands by 5.2% in the first quarter. BB&T Securities LLC now owns 1,975 shares of the company’s stock worth $430,000 after buying an additional 98 shares in the last quarter. Credit Agricole S A boosted its stake in Acuity Brands by 197.1% in the first quarter. Credit Agricole S A now owns 139,838 shares of the company’s stock worth $30,504,000 after buying an additional 92,774 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Acuity Brands during the first quarter worth approximately $273,000. Finally, Aviva PLC boosted its stake in Acuity Brands by 87.9% in the first quarter. Aviva PLC now owns 45,856 shares of the company’s stock worth $10,003,000 after buying an additional 21,456 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Acuity Brands Company Profile