Acuity Brands (NYSE:AYI) Hits New 52-Week High at $252.00

Shares of Acuity Brands, Inc. (NYSE:AYIGet Free Report) hit a new 52-week high on Thursday . The stock traded as high as $252.00 and last traded at $250.91, with a volume of 8432 shares trading hands. The stock had previously closed at $250.06.

Analysts Set New Price Targets

AYI has been the topic of a number of recent analyst reports. StockNews.com downgraded Acuity Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd. Wells Fargo & Company raised their price objective on Acuity Brands from $200.00 to $236.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.80.

Read Our Latest Research Report on Acuity Brands

Acuity Brands Price Performance

The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.82 and a beta of 1.50. The stock has a fifty day simple moving average of $227.93 and a 200-day simple moving average of $191.63. The company has a current ratio of 2.45, a quick ratio of 1.85 and a debt-to-equity ratio of 0.24.

Acuity Brands (NYSE:AYIGet Free Report) last released its earnings results on Tuesday, January 9th. The electronics maker reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.49. The firm had revenue of $934.70 million for the quarter, compared to analyst estimates of $935.14 million. Acuity Brands had a return on equity of 21.43% and a net margin of 9.56%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. As a group, equities research analysts expect that Acuity Brands, Inc. will post 13.73 EPS for the current year.

Acuity Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from Acuity Brands’s previous quarterly dividend of $0.13. Acuity Brands’s dividend payout ratio (DPR) is presently 5.13%.

Insider Transactions at Acuity Brands

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

Hedge Funds Weigh In On Acuity Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its position 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 buying an additional 58 shares during the period. EdgeRock Capital LLC bought a new position in shares of Acuity Brands during the 4th quarter worth approximately $29,000. Steward Partners Investment Advisory LLC bought a new position in shares of Acuity Brands during the 4th quarter worth approximately $33,000. Raleigh Capital Management Inc. lifted its position in shares of Acuity Brands by 5,666.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock worth $35,000 after buying an additional 170 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of Acuity Brands during the 1st quarter worth approximately $41,000. Institutional investors own 95.58% of the company’s stock.

Acuity Brands Company Profile

(Get Free Report)

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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