BNP Paribas Arbitrage SA increased its position in Acuity Brands, Inc. (NYSE:AYI) by 71.3% in the second quarter, Holdings Channel.com reports. The firm owned 17,653 shares of the electronics maker’s stock after acquiring an additional 7,347 shares during the period. BNP Paribas Arbitrage SA’s holdings in Acuity Brands were worth $3,302,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Twin Lakes Capital Management LLC acquired a new position in shares of Acuity Brands during the 1st quarter worth about $26,000. Van ECK Associates Corp grew its position in shares of Acuity Brands by 107.2% during the 2nd quarter. Van ECK Associates Corp now owns 460 shares of the electronics maker’s stock worth $86,000 after buying an additional 238 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Acuity Brands during the 1st quarter worth about $214,000. Cigna Investments Inc. New acquired a new position in shares of Acuity Brands during the 1st quarter worth about $220,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Acuity Brands during the 2nd quarter worth about $234,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.
Several equities analysts have recently issued reports on the company. Credit Suisse Group boosted their target price on Acuity Brands from $211.00 to $212.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 31st. Oppenheimer assumed coverage on Acuity Brands in a research report on Thursday, July 1st. They issued a “buy” rating and a $205.00 price objective for the company. Zacks Investment Research lowered Acuity Brands from a “buy” rating to a “hold” rating and set a $195.00 price objective for the company. in a research report on Monday, May 31st. Finally, Robert W. Baird reiterated a “buy” rating on shares of Acuity Brands in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $183.59.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, June 30th. The electronics maker reported $2.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.68. The firm had revenue of $899.70 million for the quarter, compared to analysts’ expectations of $840.90 million. Acuity Brands had a return on equity of 16.18% and a net margin of 8.39%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. On average, equities research analysts forecast that Acuity Brands, Inc. will post 9.17 EPS for the current year.
Acuity Brands Profile
Acuity Brands, Inc engages in the provision of lighting and building management solutions and services. The firm caters commercial, institutional, industrial, infrastructure and residential applications for various markets. It offers luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers as well as integrated systems for various indoor and outdoor applications.
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