Acuity Brands Inc. (NYSE:AYI)‘s stock had its “neutral” rating reissued by stock analysts at Roth Capital in a note issued to investors on Friday. They presently have a $250.00 price objective on the stock, down from their previous price objective of $275.00. Roth Capital’s price target indicates a potential upside of 2.55% from the stock’s current price.
A number of other research analysts also recently issued reports on AYI. Canaccord Genuity restated a “buy” rating on shares of Acuity Brands in a research note on Wednesday, June 29th. Credit Agricole SA restated an “outperform” rating and issued a $270.00 price objective on shares of Acuity Brands in a research note on Friday, July 1st. Robert W. Baird set a $272.00 price objective on Acuity Brands and gave the company a “buy” rating in a research note on Thursday, October 6th. William Blair restated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Finally, Cowen and Company set a $285.00 price objective on Acuity Brands and gave the company a “buy” rating in a research note on Thursday, October 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $275.36.
Acuity Brands (NYSE:AYI) opened at 243.79 on Friday. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89. The company has a market cap of $10.65 billion, a PE ratio of 36.77 and a beta of 1.46. The company has a 50 day moving average price of $263.64 and a 200-day moving average price of $256.37.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. The business earned $925.50 million during the quarter. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. Acuity Brands’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. Equities analysts predict that Acuity Brands will post $9.70 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a yield of 0.21%. Acuity Brands’s dividend payout ratio (DPR) is 7.83%.
Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in Acuity Brands during the second quarter valued at $153,000. Mizuho Asset Management Co. Ltd. acquired a new stake in Acuity Brands during the second quarter valued at $163,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in Acuity Brands during the second quarter valued at $174,000. Point72 Asia Hong Kong Ltd boosted its stake in Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock valued at $191,000 after buying an additional 65 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.
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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