Acuity Brands (NYSE:AYI) Hits New 1-Year High at $264.49

Acuity Brands, Inc. (NYSE:AYIGet Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $264.49 and last traded at $263.87, with a volume of 67836 shares. The stock had previously closed at $258.54.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on Acuity Brands from $200.00 to $236.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. StockNews.com upgraded Acuity Brands from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 12th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.80.

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Acuity Brands Price Performance

The firm has a market capitalization of $8.20 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.91 and a beta of 1.49. The stock’s 50 day simple moving average is $243.13 and its two-hundred day simple moving average is $201.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 2.45.

Acuity Brands (NYSE:AYIGet Free Report) last issued its earnings results on Tuesday, January 9th. The electronics maker reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.49. Acuity Brands had a return on equity of 21.43% and a net margin of 9.56%. The company had revenue of $934.70 million during the quarter, compared to analysts’ expectations of $935.14 million. During the same period in the prior year, the business earned $3.04 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Acuity Brands, Inc. will post 13.72 EPS for the current year.

Acuity Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.23%. This is a positive change from Acuity Brands’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 2nd. Acuity Brands’s payout ratio is presently 5.13%.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Acuity Brands by 0.5% during the 3rd quarter. FMR LLC now owns 3,365,821 shares of the electronics maker’s stock worth $573,233,000 after purchasing an additional 17,459 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Acuity Brands by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 3,313,389 shares of the electronics maker’s stock worth $627,225,000 after buying an additional 60,541 shares during the last quarter. BlackRock Inc. boosted its position in shares of Acuity Brands by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,982,396 shares of the electronics maker’s stock worth $564,568,000 after acquiring an additional 25,598 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Acuity Brands by 19.3% in the 1st quarter. Wellington Management Group LLP now owns 1,208,990 shares of the electronics maker’s stock valued at $228,862,000 after acquiring an additional 195,515 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Acuity Brands by 620.3% during the 4th quarter. Morgan Stanley now owns 1,197,721 shares of the electronics maker’s stock worth $198,355,000 after acquiring an additional 1,031,432 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

About Acuity Brands

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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.

Further Reading

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