Acuity Brands, Inc. (NYSE:AYI) Receives $289.25 Average PT from Brokerages

Shares of Acuity Brands, Inc. (NYSE:AYIGet Free Report) have been given an average rating of “Moderate Buy” by the four analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $289.25.

Several research firms have commented on AYI. Robert W. Baird boosted their price target on shares of Acuity Brands from $236.00 to $286.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their target price on Acuity Brands from $227.00 to $261.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their price target on shares of Acuity Brands from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Oppenheimer raised their price target on shares of Acuity Brands from $250.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th.

View Our Latest Analysis on AYI

Insider Activity at Acuity Brands

In related news, Director Maya Leibman acquired 200 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were purchased at an average price of $248.91 per share, for a total transaction of $49,782.00. Following the acquisition, the director now owns 200 shares in the company, valued at $49,782. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Maya Leibman purchased 200 shares of Acuity Brands stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average price of $248.91 per share, for a total transaction of $49,782.00. Following the transaction, the director now owns 200 shares in the company, valued at $49,782. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karen J. Holcom sold 7,745 shares of Acuity Brands stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $262.24, for a total transaction of $2,031,048.80. Following the transaction, the chief financial officer now owns 20,287 shares in the company, valued at $5,320,062.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acuity Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in Acuity Brands by 8.6% in the 3rd quarter. Victory Capital Management Inc. now owns 5,724 shares of the electronics maker’s stock valued at $975,000 after purchasing an additional 453 shares during the period. SouthState Corp boosted its position in shares of Acuity Brands by 3.3% during the third quarter. SouthState Corp now owns 1,854 shares of the electronics maker’s stock worth $316,000 after purchasing an additional 60 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of Acuity Brands by 0.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 64,432 shares of the electronics maker’s stock valued at $10,973,000 after purchasing an additional 258 shares during the period. Boston Partners raised its stake in shares of Acuity Brands by 35.8% in the 3rd quarter. Boston Partners now owns 709,647 shares of the electronics maker’s stock valued at $120,585,000 after purchasing an additional 187,128 shares during the period. Finally, New York Life Investment Management LLC lifted its position in shares of Acuity Brands by 104.3% in the third quarter. New York Life Investment Management LLC now owns 3,395 shares of the electronics maker’s stock worth $578,000 after purchasing an additional 1,733 shares in the last quarter. Institutional investors own 98.21% of the company’s stock.

Acuity Brands Price Performance

Shares of AYI stock opened at $257.11 on Tuesday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.96 and a current ratio of 2.59. The stock’s 50-day simple moving average is $259.77 and its 200-day simple moving average is $234.33. Acuity Brands has a fifty-two week low of $149.30 and a fifty-two week high of $272.74.

Acuity Brands (NYSE:AYIGet Free Report) last issued its earnings results on Wednesday, April 3rd. The electronics maker reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.23. The firm had revenue of $905.90 million for the quarter, compared to the consensus estimate of $897.01 million. Acuity Brands had a return on equity of 21.22% and a net margin of 9.81%. As a group, equities analysts forecast that Acuity Brands will post 14.48 earnings per share for the current fiscal year.

Acuity Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Tuesday, April 16th. Acuity Brands’s dividend payout ratio (DPR) is presently 5.02%.

About Acuity Brands

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Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in 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 A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.

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