Robert W. Baird Issues Pessimistic Forecast for Acuity (NYSE:AYI) Stock Price

Acuity (NYSE:AYI) had its price target decreased by stock analysts at Robert W. Baird from $375.00 to $320.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s price target would indicate a potential upside of 13.18% from the company’s current price.

A number of other equities analysts have also issued reports on AYI. William Blair reissued an “outperform” rating on shares of Acuity in a report on Tuesday, December 30th. Wall Street Zen downgraded Acuity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Acuity in a research report on Monday, December 29th. Morgan Stanley lowered their target price on Acuity from $425.00 to $410.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Finally, Wells Fargo & Company dropped their target price on Acuity from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $380.17.

Acuity Stock Up 1.3%

Shares of NYSE:AYI opened at $282.74 on Wednesday. Acuity has a 1-year low of $216.81 and a 1-year high of $380.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.07 and a quick ratio of 1.39. The stock has a market cap of $8.67 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.51 and a beta of 1.50. The firm has a fifty day moving average price of $299.93 and a 200 day moving average price of $336.38.

Acuity (NYSE:AYI) last posted its quarterly earnings data on Thursday, January 8th. The electronics maker reported $4.69 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.24. Acuity had a net margin of 9.04% and a return on equity of 20.97%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $3.97 earnings per share. Acuity’s quarterly revenue was up 20.2% on a year-over-year basis. Sell-side analysts predict that Acuity will post 15.86 EPS for the current year.

Insiders Place Their Bets

In other Acuity news, CFO Karen J. Holcom sold 4,974 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $309.23, for a total value of $1,538,110.02. Following the completion of the transaction, the chief financial officer owned 21,523 shares in the company, valued at approximately $6,655,557.29. This represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acuity

A number of institutional investors and hedge funds have recently made changes to their positions in AYI. NewEdge Advisors LLC boosted its holdings in Acuity by 8,338.5% during the first quarter. NewEdge Advisors LLC now owns 1,097 shares of the electronics maker’s stock worth $289,000 after buying an additional 1,084 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Acuity by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 76,543 shares of the electronics maker’s stock valued at $20,158,000 after buying an additional 11,144 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Acuity by 22.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,772 shares of the electronics maker’s stock valued at $529,000 after acquiring an additional 319 shares during the period. Creative Planning boosted its stake in shares of Acuity by 3.8% during the 2nd quarter. Creative Planning now owns 4,721 shares of the electronics maker’s stock worth $1,409,000 after acquiring an additional 171 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Acuity by 23.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 5,700 shares of the electronics maker’s stock worth $1,701,000 after acquiring an additional 1,100 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Acuity Company Profile

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.