Acuity Brands Inc (NYSE:AYI)‘s stock had its “outperform” rating reissued by Oppenheimer Holdings, Inc. in a note issued to investors on Tuesday. They presently have a $265.00 price target on the stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 23.51% from the company’s current price.
AYI has been the subject of a number of other reports. JMP Securities began coverage on shares of Acuity Brands in a research note on Thursday, December 8th. They issued an “underperform” rating and a $200.00 target price for the company. Zacks Investment Research upgraded shares of Acuity Brands from a “sell” rating to a “hold” rating in a research note on Thursday, November 10th. Canaccord Genuity restated a “buy” rating and issued a $240.00 price objective on shares of Acuity Brands in a research note on Tuesday, January 10th. Robert W. Baird cut shares of Acuity Brands from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $272.00 to $265.00 in a research note on Tuesday, December 20th. Finally, Deutsche Bank AG began coverage on shares of Acuity Brands in a research note on Tuesday, November 22nd. They issued a “buy” rating and a $300.00 price objective for the company. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $257.33.
Acuity Brands (NYSE:AYI) opened at 214.55 on Tuesday. Acuity Brands has a 12 month low of $181.01 and a 12 month high of $280.89. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 31.00 and a beta of 1.33. The firm’s 50-day moving average is $215.15 and its 200 day moving average is $244.67.
Acuity Brands (NYSE:AYI) last posted its earnings results on Monday, January 9th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.16 by $0.16. The business earned $821.20 million during the quarter. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. Equities analysts predict that Acuity Brands will post $8.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Monday, January 23rd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Thursday, January 19th. Acuity Brands’s dividend payout ratio (DPR) is presently 7.50%.
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In other Acuity Brands news, Director Ray M. Robinson sold 1,100 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total value of $226,809.00. Following the sale, the director now owns 1,307 shares of the company’s stock, valued at approximately $269,490.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its stake in shares of Acuity Brands by 21.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 431 shares of the company’s stock valued at $114,000 after buying an additional 76 shares during the period. Assetmark Inc. raised its stake in shares of Acuity Brands by 1.2% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock valued at $114,000 after buying an additional 5 shares during the period. Global X Management Co. LLC raised its stake in shares of Acuity Brands by 127.1% in the third quarter. Global X Management Co. LLC now owns 461 shares of the company’s stock valued at $122,000 after buying an additional 258 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in Acuity Brands during the third quarter valued at $125,000. Finally, Van ECK Associates Corp raised its stake in Acuity Brands by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 570 shares of the company’s stock valued at $132,000 after buying an additional 42 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
About Acuity Brands
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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