Acuity Brands (NYSE:AYI) Price Target Cut to $320.00 by Analysts at Wells Fargo & Company

Acuity Brands (NYSE:AYI) had its price target decreased by Wells Fargo & Company from $330.00 to $320.00 in a research note published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the electronics maker’s stock.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Acuity Brands in a research note on Monday. They issued an “equal weight” rating and a $304.00 target price for the company. William Blair raised shares of Acuity Brands from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 2nd. StockNews.com raised shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 2nd. Oppenheimer lifted their price target on Acuity Brands from $315.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird upped their price objective on Acuity Brands from $280.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.00.

Acuity Brands Stock Performance

Shares of NYSE AYI opened at $304.72 on Tuesday. The stock has a market capitalization of $9.40 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. Acuity Brands has a 52 week low of $204.34 and a 52 week high of $337.99. The stock has a 50 day moving average price of $314.79 and a 200 day moving average price of $279.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.16 and a current ratio of 2.72.

Insider Transactions at Acuity Brands

In other news, SVP Barry R. Goldman sold 5,120 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $305.00, for a total value of $1,561,600.00. Following the completion of the sale, the senior vice president now owns 8,438 shares of the company’s stock, valued at approximately $2,573,590. The trade was a 37.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Acuity Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp increased its holdings in shares of Acuity Brands by 8.0% during the second quarter. Texas Permanent School Fund Corp now owns 28,846 shares of the electronics maker’s stock worth $6,965,000 after purchasing an additional 2,138 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Acuity Brands during the third quarter worth approximately $3,849,000. Hancock Whitney Corp increased its stake in Acuity Brands by 42.0% during the 3rd quarter. Hancock Whitney Corp now owns 6,477 shares of the electronics maker’s stock worth $1,784,000 after acquiring an additional 1,917 shares during the period. Aigen Investment Management LP acquired a new position in Acuity Brands in the 3rd quarter valued at $484,000. Finally, McKinley Carter Wealth Services Inc. lifted its position in shares of Acuity Brands by 15.0% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 21,285 shares of the electronics maker’s stock valued at $5,862,000 after acquiring an additional 2,773 shares during the period. Institutional investors and hedge funds 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.