JMP Securities Boosts Acuity Brands (NYSE:AYI) Price Target to $184.00

Acuity Brands (NYSE:AYI) had its target price raised by investment analysts at JMP Securities from $176.00 to $184.00 in a report issued on Thursday, April 4th, Marketbeat Ratings reports. The firm currently has a “market outperform” rating on the electronics maker’s stock. JMP Securities’ price objective suggests a potential upside of 26.20% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Oppenheimer lowered their price objective on shares of Acuity Brands from $170.00 to $166.00 in a research report on Friday, January 11th. Wells Fargo & Co restated a “buy” rating and set a $155.00 target price (up from $146.00) on shares of Acuity Brands in a research report on Thursday, April 4th. Zacks Investment Research upgraded shares of Acuity Brands from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. Credit Suisse Group restated a “market perform” rating and set a $128.00 target price (down from $135.00) on shares of Acuity Brands in a research report on Thursday, January 3rd. Finally, Goldman Sachs Group upgraded shares of Acuity Brands from a “sell” rating to a “neutral” rating and set a $121.00 target price on the stock in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $151.67.

Shares of Acuity Brands stock traded up $0.39 during trading on Thursday, reaching $145.80. The company’s stock had a trading volume of 188,360 shares, compared to its average volume of 417,896. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.66 and a beta of 1.54. Acuity Brands has a fifty-two week low of $103.48 and a fifty-two week high of $173.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.11 and a quick ratio of 1.40.

Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, April 3rd. The electronics maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.21. Acuity Brands had a net margin of 8.63% and a return on equity of 20.46%. The business had revenue of $854.40 million for the quarter, compared to analysts’ expectations of $877.82 million. During the same period in the previous year, the company posted $1.89 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Acuity Brands will post 8.84 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in AYI. Bank of Montreal Can raised its stake in Acuity Brands by 2.6% in the 1st quarter. Bank of Montreal Can now owns 159,683 shares of the electronics maker’s stock valued at $19,163,000 after purchasing an additional 4,001 shares during the last quarter. Kays Financial Advisory Corp ADV raised its stake in Acuity Brands by 27.9% in the 1st quarter. Kays Financial Advisory Corp ADV now owns 4,925 shares of the electronics maker’s stock valued at $591,000 after purchasing an additional 1,074 shares during the last quarter. Midas Management Corp raised its stake in Acuity Brands by 62.4% in the 1st quarter. Midas Management Corp now owns 27,600 shares of the electronics maker’s stock valued at $3,312,000 after purchasing an additional 10,600 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Acuity Brands by 14.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,853 shares of the electronics maker’s stock valued at $2,503,000 after purchasing an additional 2,582 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Acuity Brands by 13.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,906 shares of the electronics maker’s stock valued at $3,469,000 after purchasing an additional 3,407 shares during the last quarter. Institutional investors and hedge funds own 94.43% of the company’s stock.

Acuity Brands Company Profile

Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

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Analyst Recommendations for Acuity Brands (NYSE:AYI)

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