Credit Suisse Group Cuts Acuity Brands (NYSE:AYI) Price Target to $211.00

Acuity Brands (NYSE:AYIGet Rating) had its price target decreased by Credit Suisse Group from $241.00 to $211.00 in a research report report published on Monday, The Fly reports. Credit Suisse Group currently has an outperform rating on the electronics maker’s stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird decreased their price target on Acuity Brands from $210.00 to $188.00 and set an outperform rating on the stock in a report on Friday, June 17th. Wells Fargo & Company cut their price objective on Acuity Brands from $237.00 to $200.00 and set an overweight rating for the company in a research report on Wednesday, April 6th. initiated coverage on Acuity Brands in a research report on Thursday, March 31st. They set a strong-buy rating for the company. Finally, William Blair lowered Acuity Brands from an outperform rating to a market perform rating in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $210.33.

NYSE:AYI opened at $155.74 on Monday. The company has a quick ratio of 1.54, a current ratio of 2.25 and a debt-to-equity ratio of 0.24. The business’s 50-day simple moving average is $168.61 and its two-hundred day simple moving average is $183.74. The stock has a market cap of $5.39 billion, a PE ratio of 16.09, a P/E/G ratio of 1.39 and a beta of 1.56. Acuity Brands has a 52 week low of $142.71 and a 52 week high of $224.59.

Acuity Brands (NYSE:AYIGet Rating) last posted its quarterly earnings results on Tuesday, April 5th. The electronics maker reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The business had revenue of $909.10 million for the quarter, compared to analysts’ expectations of $886.42 million. Acuity Brands had a return on equity of 18.57% and a net margin of 9.30%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $1.96 earnings per share. Sell-side analysts anticipate that Acuity Brands will post 11.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Monday, April 18th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, April 14th. This represents a $0.52 annualized dividend and a yield of 0.33%. Acuity Brands’s dividend payout ratio is currently 5.37%.

In other Acuity Brands news, SVP Barry R. Goldman sold 906 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $177.47, for a total value of $160,787.82. Following the completion of the sale, the senior vice president now owns 4,749 shares of the company’s stock, valued at $842,805.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. TCI Wealth Advisors Inc. raised its stake in shares of Acuity Brands by 277.8% during the first quarter. TCI Wealth Advisors Inc. now owns 136 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in Acuity Brands in the fourth quarter worth approximately $34,000. Spire Wealth Management bought a new position in Acuity Brands in the fourth quarter worth approximately $42,000. Pinebridge Investments L.P. bought a new position in Acuity Brands in the fourth quarter worth approximately $43,000. Finally, Zions Bancorporation N.A. raised its stake in Acuity Brands by 2,926.7% in the first quarter. Zions Bancorporation N.A. now owns 454 shares of the electronics maker’s stock worth $86,000 after buying an additional 439 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Acuity Brands Company Profile (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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