A number of other equities research analysts have also commented on AYI. Roth Capital set a $275.00 price target on Acuity Brands and gave the company a hold rating in a research report on Saturday. Canaccord Genuity reiterated a buy rating on shares of Acuity Brands in a research report on Wednesday, June 29th. Credit Agricole SA reiterated an outperform rating and issued a $270.00 price target on shares of Acuity Brands in a research report on Friday, July 1st. Zacks Investment Research lowered Acuity Brands from a buy rating to a hold rating in a research report on Tuesday, June 7th. Finally, William Blair reiterated an outperform rating on shares of Acuity Brands in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $279.10.
Acuity Brands (NYSE:AYI) traded down 5.25% on Tuesday, hitting $241.60. The company had a trading volume of 1,155,637 shares. 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 $10.51 billion, a P/E ratio of 39.47 and a beta of 1.46. The stock’s 50-day moving average price is $267.49 and its 200 day moving average price is $255.67.
Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The company earned $925.50 million during the quarter, compared to the consensus estimate of $759.50 million. During the same quarter last year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts expect that Acuity Brands will post $8.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Friday, October 14th. Acuity Brands’s dividend payout ratio (DPR) is currently 8.48%.
In other news, CFO Richard K. Reece sold 33,430 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $269.07, for a total value of $8,995,010.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vernon J. Nagel sold 65,060 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Stephens Inc. AR increased its stake in shares of Acuity Brands by 0.4% in the second quarter. Stephens Inc. AR now owns 998 shares of the company’s stock valued at $247,000 after buying an additional 4 shares during the period. IFP Advisors Inc increased its stake in shares of Acuity Brands by 1.1% in the second quarter. IFP Advisors Inc now owns 929 shares of the company’s stock valued at $230,000 after buying an additional 10 shares during the period. Segall Bryant & Hamill LLC increased its stake 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 valued at $338,000 after buying an additional 20 shares during the period. Commonwealth Equity Services Inc increased its stake 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 valued at $528,000 after buying an additional 23 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Acuity Brands by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,106 shares of the company’s stock valued at $247,000 after buying an additional 27 shares during the period. 93.26% of the stock is owned by hedge funds and other institutional investors.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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