Acuity Brands (AYI) Stock Rating Upgraded by Zacks Investment Research

Acuity Brands (NYSE:AYI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Acuity Brands missed analysts’ expectations on both the top and the bottom lines in first quarter of fiscal 2018. Earnings and revenues decreased 3% and 1% year over year, respectively. Continued tepid market conditions and the decline in revenues in certain sales channels led to the drab results. Weakness in its adjusted gross margin was also visible in the quarter, down 80 bps in the quarter. Lighting fixture shipments in the United States declined in a low-single-digit in the quarter. That said, Acuity Brands continues to expect the North American lighting market to increase at a low-single-digit rate in fiscal 2018, with Acuity Brands growing above the industry. The company expects a rebound in the second half of the fiscal year, driven in part by mid-to-large projects. It also expects the recent federal corporate tax rate cut to favorably impact the company’s net income, EPS and cash flows.”

Other equities research analysts have also recently issued research reports about the stock. Seaport Global Securities reissued a “neutral” rating on shares of Acuity Brands in a research note on Thursday. Williams Capital cut shares of Acuity Brands from a “buy” rating to a “hold” rating and dropped their price target for the company from $204.00 to $175.00 in a research note on Wednesday. Wells Fargo & Co reissued a “market perform” rating and issued a $175.00 price target (down previously from $185.00) on shares of Acuity Brands in a research note on Wednesday. Robert W. Baird cut shares of Acuity Brands from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $212.00 to $178.00 in a research note on Tuesday, September 19th. Finally, Oppenheimer reissued a “buy” rating and issued a $200.00 price target (down previously from $230.00) on shares of Acuity Brands in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Acuity Brands has a consensus rating of “Hold” and a consensus target price of $196.23.

Shares of Acuity Brands (NYSE AYI) opened at $158.74 on Friday. Acuity Brands has a one year low of $153.28 and a one year high of $225.36. The stock has a market cap of $6,692.16, a price-to-earnings ratio of 20.07, a P/E/G ratio of 1.66 and a beta of 1.44. The company has a quick ratio of 1.53, a current ratio of 2.23 and a debt-to-equity ratio of 0.21.

In other Acuity Brands news, EVP Mark A. Black sold 7,441 shares of Acuity Brands stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the sale, the executive vice president now owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of Acuity Brands by 661.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock valued at $111,000 after acquiring an additional 476 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Acuity Brands by 11.0% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock valued at $119,000 after acquiring an additional 58 shares during the last quarter. QS Investors LLC boosted its position in shares of Acuity Brands by 1.2% during the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 7 shares during the last quarter. First Bank & Trust boosted its position in shares of Acuity Brands by 183.7% during the 3rd quarter. First Bank & Trust now owns 746 shares of the electronics maker’s stock valued at $128,000 after acquiring an additional 483 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of Acuity Brands by 20.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 830 shares of the electronics maker’s stock valued at $168,000 after acquiring an additional 142 shares during the last quarter.

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Acuity Brands Company Profile

Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.

Analyst Recommendations for Acuity Brands (NYSE:AYI)

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