Acuity Brands (NYSE:AYI – Get Free Report) had its price objective raised by Wells Fargo & Company from $289.00 to $305.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 1.84% from the stock’s previous close.
A number of other analysts have also weighed in on AYI. Oppenheimer increased their target price on shares of Acuity Brands from $315.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird increased their target price on shares of Acuity Brands from $280.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, StockNews.com lowered shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acuity Brands currently has an average rating of “Hold” and an average target price of $313.50.
View Our Latest Analysis on Acuity Brands
Acuity Brands Trading Up 0.1 %
Acuity Brands (NYSE:AYI – Get Free Report) last posted its earnings results on Tuesday, October 1st. The electronics maker reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.40. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Acuity Brands had a net margin of 10.12% and a return on equity of 20.97%. Acuity Brands’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.74 earnings per share. As a group, equities analysts anticipate that Acuity Brands will post 14.26 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of AYI. New Covenant Trust Company N.A. purchased a new position in shares of Acuity Brands during the 1st quarter valued at $27,000. Raleigh Capital Management Inc. lifted its stake in shares of Acuity Brands by 5,666.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock valued at $35,000 after buying an additional 170 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of Acuity Brands during the 2nd quarter valued at $41,000. Versant Capital Management Inc lifted its stake in shares of Acuity Brands by 4,214.3% during the 2nd quarter. Versant Capital Management Inc now owns 302 shares of the electronics maker’s stock valued at $73,000 after buying an additional 295 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Acuity Brands by 14.7% during the 1st quarter. Covestor Ltd now owns 475 shares of the electronics maker’s stock valued at $128,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.
Acuity Brands Company Profile
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.
Featured Articles
- Five stocks we like better than Acuity Brands
- Investing in Construction Stocks
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- How to Calculate Return on Investment (ROI)
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
- Stock Sentiment Analysis: How it Works
- How Recent Port Strikes Could Impact These 3 Key Stocks
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.