Acuity Brands (NYSE:AYI) Hits New 1-Year High on Analyst Upgrade

Acuity Brands, Inc. (NYSE:AYIGet Free Report)’s stock price hit a new 52-week high on Wednesday after Robert W. Baird raised their price target on the stock from $236.00 to $286.00. Robert W. Baird currently has a neutral rating on the stock. Acuity Brands traded as high as $270.95 and last traded at $269.56, with a volume of 12727 shares traded. The stock had previously closed at $267.84.

Other equities research analysts have also issued reports about the company. StockNews.com raised Acuity Brands from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on Acuity Brands from $200.00 to $236.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Acuity Brands has an average rating of “Moderate Buy” and an average price target of $215.00.

View Our Latest Report on Acuity Brands

Insider Activity at Acuity Brands

In related news, SVP Dianne S. Mills sold 6,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $225.11, for a total value of $1,350,660.00. Following the completion of the sale, the senior vice president now directly owns 8,554 shares of the company’s stock, valued at approximately $1,925,590.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Acuity Brands news, SVP Barry R. Goldman sold 1,900 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $226.01, for a total value of $429,419.00. Following the completion of the transaction, the senior vice president now owns 8,611 shares in the company, valued at approximately $1,946,172.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dianne S. Mills sold 6,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $225.11, for a total value of $1,350,660.00. Following the completion of the transaction, the senior vice president now owns 8,554 shares of the company’s stock, valued at approximately $1,925,590.94. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Aurora Investment Counsel grew its stake in shares of Acuity Brands by 0.8% during the 3rd quarter. Aurora Investment Counsel now owns 5,938 shares of the electronics maker’s stock worth $1,011,000 after acquiring an additional 49 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of Acuity Brands by 3.1% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,847 shares of the electronics maker’s stock worth $378,000 after acquiring an additional 55 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Acuity Brands by 0.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 10,903 shares of the electronics maker’s stock worth $2,233,000 after acquiring an additional 55 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Acuity Brands by 77.3% during the 4th quarter. Venturi Wealth Management LLC now owns 133 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 58 shares during the period. Finally, SouthState Corp grew its stake in shares of Acuity Brands by 3.3% during the 3rd quarter. SouthState Corp now owns 1,854 shares of the electronics maker’s stock worth $316,000 after acquiring an additional 60 shares during the period. Institutional investors own 98.21% of the company’s stock.

Acuity Brands Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 2.45. The company has a market cap of $8.25 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.94 and a beta of 1.49. The firm has a 50 day moving average price of $247.46 and a two-hundred day moving average price of $205.56.

Acuity Brands (NYSE:AYIGet Free Report) last posted its quarterly earnings results on Tuesday, January 9th. The electronics maker reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.49. The company had revenue of $934.70 million during the quarter, compared to the consensus estimate of $935.14 million. Acuity Brands had a return on equity of 21.43% and a net margin of 9.56%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 EPS. On average, analysts predict that Acuity Brands, Inc. will post 13.72 EPS for the current fiscal year.

Acuity Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were issued a dividend of $0.15 per share. This is a boost from Acuity Brands’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.22%. Acuity Brands’s dividend payout ratio is 5.13%.

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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