According to Zacks, “Acuity Brands, Inc. is comprised of the Acuity Lighting Group and Acuity Specialty Products. The Acuity Lighting Group is the world’s largest lighting fixture manufacturer and includes brands such as Lithonia Lighting, Holophane, Peerless, and Hydrel. Acuity Specialty Products is a leading provider of specialty chemicals and includes brands such as Zep, Enforcer, and Selig. “
A number of other equities research analysts have also commented on the company. Roth Capital reaffirmed a neutral rating and set a $250.00 price target (down previously from $275.00) on shares of Acuity Brands in a research report on Friday, October 7th. Robert W. Baird set a $272.00 price target on Acuity Brands and gave the stock a buy rating in a research report on Thursday, October 6th. Cowen and Company set a $285.00 price objective on Acuity Brands and gave the stock a buy rating in a report on Thursday, October 6th. Canaccord Genuity upgraded Acuity Brands from a hold rating to a buy rating and decreased their price objective for the stock from $305.00 to $286.00 in a report on Thursday, October 6th. Finally, DA Davidson reiterated a hold rating and set a $255.00 price objective on shares of Acuity Brands in a report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Acuity Brands currently has a consensus rating of Buy and an average target price of $275.36.
Shares of Acuity Brands (NYSE:AYI) opened at 248.02 on Wednesday. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 37.41 and a beta of 1.46. The company has a 50-day moving average price of $259.98 and a 200 day moving average price of $256.32. Acuity Brands has a 12-month low of $169.42 and a 12-month high of $280.89.
Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The business had revenue of $925.50 million for the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. Acuity Brands’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. Equities research analysts expect that Acuity Brands will post $9.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. Acuity Brands’s dividend payout ratio is currently 7.83%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Acuity Brands during the second quarter valued at approximately $153,000. Mizuho Asset Management Co. Ltd. acquired a new position in shares of Acuity Brands during the second quarter valued at approximately $163,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of Acuity Brands during the second quarter valued at approximately $174,000. Point72 Asia Hong Kong Ltd increased its position in shares of 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 in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of 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 in the last quarter. Institutional investors own 93.22% of the company’s stock.
About Acuity Brands
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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