Acuity, Inc. (NYSE:AYI) Given Average Rating of “Moderate Buy” by Brokerages

Acuity, Inc. (NYSE:AYI) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $380.1667.

A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Acuity from $425.00 to $410.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Wells Fargo & Company cut their price target on shares of Acuity from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Robert W. Baird decreased their price target on shares of Acuity from $375.00 to $320.00 and set a “neutral” rating for the company in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Acuity in a research note on Tuesday, December 30th. Finally, Wall Street Zen lowered shares of Acuity from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 10th.

Insiders Place Their Bets

In other Acuity news, CFO Karen J. Holcom sold 4,974 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $309.23, for a total transaction of $1,538,110.02. Following the sale, the chief financial officer owned 21,523 shares in the company, valued at approximately $6,655,557.29. The trade was a 18.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its holdings in Acuity by 50,220.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,268,433 shares of the electronics maker’s stock worth $676,764,000 after buying an additional 2,263,925 shares during the period. M&T Bank Corp lifted its stake in Acuity by 6,496.7% during the 4th quarter. M&T Bank Corp now owns 692,189 shares of the electronics maker’s stock valued at $249,216,000 after acquiring an additional 681,696 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Acuity during the 2nd quarter valued at approximately $119,587,000. Norges Bank purchased a new stake in shares of Acuity in the 2nd quarter valued at $115,595,000. Finally, Millennium Management LLC boosted its holdings in shares of Acuity by 98.4% in the 3rd quarter. Millennium Management LLC now owns 571,017 shares of the electronics maker’s stock valued at $196,653,000 after acquiring an additional 283,203 shares during the last quarter. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Acuity Trading Down 0.0%

Shares of NYSE:AYI opened at $270.25 on Friday. The business’s 50-day moving average is $297.25 and its 200 day moving average is $335.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.07 and a quick ratio of 1.39. Acuity has a 1 year low of $216.81 and a 1 year high of $380.17. The firm has a market capitalization of $8.29 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.46 and a beta of 1.50.

Acuity (NYSE:AYI) last issued its quarterly earnings results on Thursday, January 8th. The electronics maker reported $4.69 earnings per share for the quarter, topping the consensus estimate of $4.45 by $0.24. Acuity had a return on equity of 20.97% and a net margin of 9.04%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $3.97 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts predict that Acuity will post 15.86 earnings per share for the current fiscal year.

Acuity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.3%. Acuity’s payout ratio is currently 6.15%.

About Acuity

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.