Acuity Brands, Inc. (NYSE:AYI) Receives Consensus Rating of “Buy” from Brokerages

Shares of Acuity Brands, Inc. (NYSE:AYIGet Rating) have been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $218.00.

A number of research firms have recently weighed in on AYI. Credit Suisse Group reduced their target price on shares of Acuity Brands from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, March 17th. Wells Fargo & Company cut their price objective on shares of Acuity Brands from $237.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, April 6th. Robert W. Baird cut their price objective on shares of Acuity Brands from $230.00 to $210.00 in a report on Wednesday, April 6th. Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating and set a $193.00 price objective for the company. in a report on Tuesday, March 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Acuity Brands in a report on Wednesday, March 30th.

Shares of AYI stock opened at $178.84 on Friday. Acuity Brands has a 52-week low of $158.47 and a 52-week high of $224.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.54 and a current ratio of 2.25. The company has a 50-day simple moving average of $174.13 and a two-hundred day simple moving average of $189.43. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.57 and a beta of 1.56.

Acuity Brands (NYSE:AYIGet Rating) last issued its quarterly earnings data on Tuesday, April 5th. The electronics maker reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Acuity Brands had a net margin of 9.30% and a return on equity of 18.57%. The business had revenue of $909.10 million during the quarter, compared to the consensus estimate of $886.42 million. During the same period in the prior year, the firm posted $1.96 EPS. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, sell-side analysts forecast that Acuity Brands will post 11.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Monday, April 18th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Thursday, April 14th. Acuity Brands’s dividend payout ratio (DPR) is currently 5.37%.

A number of large investors have recently modified their holdings of AYI. TCI Wealth Advisors Inc. raised its position in Acuity Brands by 277.8% in the 1st quarter. TCI Wealth Advisors Inc. now owns 136 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 100 shares during the period. Confluence Wealth Services Inc. bought a new stake in Acuity Brands in the 4th quarter worth $34,000. Spire Wealth Management bought a new stake in Acuity Brands in the 4th quarter worth $42,000. Pinebridge Investments L.P. bought a new stake in Acuity Brands in the 4th quarter worth $43,000. Finally, Zions Bancorporation N.A. grew its holdings in Acuity Brands by 2,926.7% in the 1st quarter. Zions Bancorporation N.A. now owns 454 shares of the electronics maker’s stock worth $86,000 after acquiring an additional 439 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

About Acuity Brands (Get Rating)

Acuity Brands, Inc provides lighting and building management solutions in North America and internationally. The company operates through two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Sunoptics, eldoLED, nLight, Sensor Switch, IOTA, A-Light, Cyclone, Eureka, Lumniaire LED, Luminis, Dark to Light, and RELOC Wiring Solutions brands.

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Analyst Recommendations for Acuity Brands (NYSE:AYI)

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