Acuity Brands (NYSE:AYI) Stock Price Down 3.8% After Analyst Downgrade

Shares of Acuity Brands, Inc. (NYSE:AYIGet Free Report) dropped 3.8% on Tuesday after Robert W. Baird lowered their price target on the stock from $286.00 to $280.00. Robert W. Baird currently has a neutral rating on the stock. Acuity Brands traded as low as $248.99 and last traded at $249.28. Approximately 115,182 shares traded hands during trading, a decline of 54% from the average daily volume of 251,040 shares. The stock had previously closed at $259.23.

AYI has been the subject of several other research reports. Wells Fargo & Company boosted their target price on shares of Acuity Brands from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. The Goldman Sachs Group upped their price target on shares of Acuity Brands from $227.00 to $261.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, Oppenheimer upped their price target on shares of Acuity Brands from $250.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $287.75.

Check Out Our Latest Analysis on AYI

Insider Activity

In other Acuity Brands news, Director Maya Leibman bought 200 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were bought at an average price of $248.91 per share, for a total transaction of $49,782.00. Following the acquisition, the director now directly owns 200 shares of the company’s stock, valued at $49,782. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Karen J. Holcom sold 7,745 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $262.24, for a total value of $2,031,048.80. Following the transaction, the chief financial officer now owns 20,287 shares in the company, valued at $5,320,062.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maya Leibman acquired 200 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $248.91 per share, for a total transaction of $49,782.00. Following the acquisition, the director now directly owns 200 shares of the company’s stock, valued at approximately $49,782. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acuity Brands

A number of large investors have recently added to or reduced their stakes in AYI. Norges Bank bought a new stake in shares of Acuity Brands in the fourth quarter valued at approximately $68,686,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Acuity Brands by 41.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 844,969 shares of the electronics maker’s stock valued at $143,907,000 after acquiring an additional 247,774 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Acuity Brands by 17.2% in the third quarter. Wellington Management Group LLP now owns 1,103,793 shares of the electronics maker’s stock valued at $187,987,000 after acquiring an additional 161,818 shares during the last quarter. Vision One Management Partners LP acquired a new position in shares of Acuity Brands during the 4th quarter worth approximately $21,901,000. Finally, Schwerin Boyle Capital Management Inc. acquired a new position in shares of Acuity Brands during the 3rd quarter worth approximately $17,321,000. Institutional investors own 98.21% of the company’s stock.

Acuity Brands Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.96 and a current ratio of 2.59. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 1.74 and a beta of 1.44. The business has a fifty day moving average of $256.74 and a two-hundred day moving average of $241.34.

Acuity Brands (NYSE:AYIGet Free Report) last posted its earnings results on Wednesday, April 3rd. The electronics maker reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.23. The business had revenue of $905.90 million for the quarter, compared to analyst estimates of $897.01 million. Acuity Brands had a return on equity of 21.22% and a net margin of 9.81%. As a group, research analysts predict that Acuity Brands, Inc. will post 14.48 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. Acuity Brands’s payout ratio is 5.02%.

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.

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