Trade Report: Today: Deutsche Bank AG Reaffirmed “Buy” Rating for Acuity Brands Inc. (AYI)

Today: Deutsche Bank AG Reaffirmed “Buy” Rating for Acuity Brands Inc. (AYI)

Acuity Brands Inc. (NYSE:AYI)‘s stock had its “buy” rating reiterated by Deutsche Bank AG in a research report issued on Monday. They currently have a $300.00 price target on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 16.49% from the stock’s current price.

Several other research analysts have also commented on the company. Zacks Investment Research lowered Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. Roth Capital began coverage on Acuity Brands in a report on Thursday, August 25th. They set a “neutral” rating and a $275.00 price objective for the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $295.00 price objective on shares of Acuity Brands in a report on Friday, September 16th. DA Davidson reissued a “hold” rating and set a $255.00 price objective on shares of Acuity Brands in a report on Tuesday, October 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $305.00 price objective on shares of Acuity Brands in a report on Friday, September 23rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Acuity Brands currently has a consensus rating of “Buy” and a consensus target price of $278.67.

Shares of Acuity Brands (NYSE:AYI) opened at 256.81 on Monday. Acuity Brands has a 52-week low of $169.42 and a 52-week high of $280.89. The firm has a market cap of $11.13 billion, a P/E ratio of 38.73 and a beta of 1.34. The firm’s 50-day moving average is $240.98 and its 200-day moving average is $255.45.

Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The company had revenue of $925.50 million for the quarter. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. Analysts anticipate that Acuity Brands will post $9.49 earnings per share for the current year.

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

Institutional investors have recently made changes to their positions in the stock. Stephens Inc. AR increased its position in shares of Acuity Brands by 0.4% in the second quarter. Stephens Inc. AR now owns 998 shares of the company’s stock worth $247,000 after buying an additional 4 shares in the last quarter. Assetmark Inc. increased its position in shares of Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock worth $114,000 after buying an additional 5 shares in the last quarter. IFP Advisors Inc increased its position in shares of Acuity Brands by 1.1% in the second quarter. IFP Advisors Inc now owns 929 shares of the company’s stock worth $230,000 after buying an additional 10 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Acuity Brands by 1.5% in the second quarter. Segall Bryant & Hamill LLC now owns 1,362 shares of the company’s stock worth $338,000 after buying an additional 20 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its position in shares of Acuity Brands by 1.1% in the second quarter. Commonwealth Equity Services Inc now owns 2,130 shares of the company’s stock worth $528,000 after buying an additional 23 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.

Acuity Brands Company Profile

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