Oppenheimer Lowers Acuity Brands (AYI) Price Target to $155.00

Acuity Brands (NYSE:AYI) had its target price reduced by stock analysts at Oppenheimer from $175.00 to $155.00 in a note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the electronics maker’s stock. Oppenheimer’s target price suggests a potential upside of 17.58% from the company’s previous close.

Several other research firms have also issued reports on AYI. Zacks Investment Research raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Williams Capital lowered shares of Acuity Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $204.00 to $175.00 in a research report on Wednesday, January 10th. Robert W. Baird reissued a “hold” rating and issued a $198.00 price objective on shares of Acuity Brands in a research report on Tuesday, January 9th. Seaport Global Securities reissued a “neutral” rating on shares of Acuity Brands in a research report on Thursday, January 11th. Finally, Wells Fargo reissued a “market perform” rating and issued a $175.00 price objective (down previously from $185.00) on shares of Acuity Brands in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Acuity Brands presently has a consensus rating of “Hold” and a consensus price target of $178.08.

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Acuity Brands stock opened at $131.83 on Thursday. Acuity Brands has a 52-week low of $119.02 and a 52-week high of $208.82. The firm has a market capitalization of $5,458.65, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.33. The company has a quick ratio of 1.65, a current ratio of 2.15 and a debt-to-equity ratio of 0.22.

Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Tuesday, January 9th. The electronics maker reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.16). Acuity Brands had a return on equity of 20.56% and a net margin of 9.68%. The business had revenue of $842.80 million during the quarter, compared to analyst estimates of $883.97 million. research analysts anticipate that Acuity Brands will post 8.79 EPS for the current fiscal year.

Acuity Brands declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 4th that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in AYI. Legal & General Group Plc boosted its stake in shares of Acuity Brands by 3.5% in the third quarter. Legal & General Group Plc now owns 210,407 shares of the electronics maker’s stock valued at $36,039,000 after purchasing an additional 7,156 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Acuity Brands by 14.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,800 shares of the electronics maker’s stock valued at $651,000 after acquiring an additional 474 shares during the last quarter. Schroder Investment Management Group boosted its stake in Acuity Brands by 214.1% during the 3rd quarter. Schroder Investment Management Group now owns 50,065 shares of the electronics maker’s stock valued at $8,417,000 after acquiring an additional 34,124 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Acuity Brands by 0.5% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 87,824 shares of the electronics maker’s stock valued at $15,042,000 after acquiring an additional 438 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Acuity Brands by 38.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 228,620 shares of the electronics maker’s stock valued at $39,159,000 after acquiring an additional 63,424 shares during the last quarter.

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Acuity Brands Company Profile

Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

Analyst Recommendations for Acuity Brands (NYSE:AYI)

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