Acuity Brands (NYSE:AYI) Cut to “Strong Sell” at ValuEngine

Acuity Brands (NYSE:AYI) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on AYI. Zacks Investment Research lifted their price target on shares of Acuity Brands to $139.50 in a research report on Monday, October 21st. JMP Securities dropped their price target on shares of Acuity Brands from $166.00 to $160.00 and set a “market outperform” rating for the company in a research report on Friday, October 18th. They noted that the move was a valuation call. Robert W. Baird cut shares of Acuity Brands from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $148.00 to $126.00 in a research report on Wednesday, October 16th. Credit Suisse Group dropped their price target on shares of Acuity Brands from $154.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Co dropped their price target on shares of Acuity Brands from $155.00 to $138.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Acuity Brands has an average rating of “Hold” and a consensus target price of $134.39.

Acuity Brands stock traded down $0.06 during midday trading on Friday, hitting $128.08. 222,872 shares of the stock were exchanged, compared to its average volume of 398,327. Acuity Brands has a fifty-two week low of $103.48 and a fifty-two week high of $147.44. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.37 and a beta of 1.52. The stock’s 50-day simple moving average is $126.29 and its 200 day simple moving average is $131.46. The company has a current ratio of 2.42, a quick ratio of 1.85 and a debt-to-equity ratio of 0.18.

Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Wednesday, October 2nd. The electronics maker reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.12. Acuity Brands had a net margin of 9.00% and a return on equity of 19.50%. The firm had revenue of $938.10 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $2.68 earnings per share. Acuity Brands’s revenue was down 11.6% compared to the same quarter last year. Equities analysts anticipate that Acuity Brands will post 9.14 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Acuity Brands by 0.3% in the second quarter. BlackRock Inc. now owns 4,238,540 shares of the electronics maker’s stock valued at $584,538,000 after purchasing an additional 14,592 shares during the period. Atlanta Capital Management Co. L L C boosted its stake in shares of Acuity Brands by 1.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,531,132 shares of the electronics maker’s stock valued at $211,158,000 after purchasing an additional 16,976 shares during the period. Investec Asset Management LTD boosted its stake in shares of Acuity Brands by 2,666.8% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the electronics maker’s stock valued at $2,556,000 after purchasing an additional 625,068 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Acuity Brands by 82.7% in the second quarter. Renaissance Technologies LLC now owns 624,600 shares of the electronics maker’s stock valued at $86,139,000 after purchasing an additional 282,700 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Acuity Brands by 1.7% in the second quarter. Northern Trust Corp now owns 455,082 shares of the electronics maker’s stock valued at $62,760,000 after purchasing an additional 7,661 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

About Acuity Brands

Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

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Analyst Recommendations for Acuity Brands (NYSE:AYI)

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