Williams Capital Trims Acuity Brands (AYI) Target Price to $151.00

Acuity Brands (NYSE:AYI) had its price target trimmed by Williams Capital from $175.00 to $151.00 in a research note released on Thursday, Marketbeat.com reports. They currently have a hold rating on the electronics maker’s stock.

Several other equities analysts have also recently issued reports on AYI. Roth Capital set a $105.00 target price on shares of Acuity Brands and gave the company a sell rating in a research note on Monday, April 2nd. ValuEngine cut shares of Acuity Brands from a hold rating to a sell rating in a research note on Monday, April 2nd. Robert W. Baird restated a hold rating and set a $168.00 target price on shares of Acuity Brands in a research note on Friday, March 16th. Wells Fargo lowered their target price on shares of Acuity Brands from $175.00 to $157.00 and set a market perform rating on the stock in a research note on Wednesday, March 28th. Finally, Seaport Global Securities restated a neutral rating on shares of Acuity Brands in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Acuity Brands has an average rating of Hold and an average target price of $178.08.

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AYI opened at $131.83 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5,557.69, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.36 and a beta of 1.33. Acuity Brands has a 52-week low of $119.02 and a 52-week high of $208.82.

Acuity Brands (NYSE:AYI) last posted its earnings results on Tuesday, January 9th. The electronics maker reported $1.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by ($0.16). The company had revenue of $842.80 million for the quarter, compared to the consensus estimate of $883.97 million. Acuity Brands had a net margin of 9.68% and a return on equity of 20.56%. analysts expect that Acuity Brands will post 8.72 EPS for the current year.

Acuity Brands declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 4th that allows the company to repurchase 6,000,000 outstanding shares. This repurchase authorization allows the electronics maker to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, April 16th. Acuity Brands’s dividend payout ratio (DPR) is presently 6.53%.

Large investors have recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Acuity Brands by 13.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,213 shares of the electronics maker’s stock worth $4,789,000 after acquiring an additional 3,322 shares in the last quarter. Toronto Dominion Bank increased its holdings in Acuity Brands by 13.1% in the 4th quarter. Toronto Dominion Bank now owns 18,156 shares of the electronics maker’s stock worth $3,194,000 after acquiring an additional 2,105 shares in the last quarter. Gabelli Funds LLC increased its holdings in Acuity Brands by 4.8% in the 4th quarter. Gabelli Funds LLC now owns 17,500 shares of the electronics maker’s stock worth $3,080,000 after acquiring an additional 800 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Acuity Brands by 38.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 228,620 shares of the electronics maker’s stock worth $39,159,000 after acquiring an additional 63,424 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in Acuity Brands by 9.6% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 7,926 shares of the electronics maker’s stock worth $1,394,000 after acquiring an additional 696 shares in 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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