Acuity (NYSE:AYI) Price Target Cut to $360.00 by Analysts at Robert W. Baird

Acuity (NYSE:AYI) had its price objective lowered by analysts at Robert W. Baird from $390.00 to $360.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Robert W. Baird’s price target indicates a potential upside of 17.62% from the company’s previous close.

AYI has been the subject of a number of other research reports. TD Cowen reaffirmed a “buy” rating on shares of Acuity in a report on Thursday, June 25th. William Blair lowered Acuity from an “outperform” rating to a “market perform” rating in a report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Acuity in a research report on Tuesday, September 22nd. The Goldman Sachs Group upped their target price on Acuity from $295.00 to $358.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Oppenheimer set a $465.00 target price on Acuity in a research report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $392.17.

Acuity Trading Down 4.2%

AYI stock opened at $306.06 on Tuesday. The company’s 50-day simple moving average is $332.27 and its 200-day simple moving average is $310.70. The company has a quick ratio of 1.47, a current ratio of 2.05 and a debt-to-equity ratio of 0.24. Acuity has a 52-week low of $257.04 and a 52-week high of $380.17. The firm has a market cap of $9.16 billion, a P/E ratio of 20.30, a PEG ratio of 1.56 and a beta of 1.29.

Insider Buying and Selling

In other Acuity news, CFO Karen Holcom sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $329.62, for a total transaction of $659,240.00. Following the completion of the transaction, the chief financial officer owned 17,447 shares of the company’s stock, valued at $5,750,880.14. This represents a 10.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Acuity

Several large investors have recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in Acuity by 61.6% in the 2nd quarter. QRG Capital Management Inc. now owns 15,260 shares of the electronics maker’s stock valued at $5,748,000 after purchasing an additional 5,816 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Acuity by 79.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,732 shares of the electronics maker’s stock worth $652,000 after purchasing an additional 769 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Acuity by 40.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,495 shares of the electronics maker’s stock worth $940,000 after purchasing an additional 719 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Acuity by 82.2% during the second quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the electronics maker’s stock worth $1,097,000 after buying an additional 1,314 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Acuity by 38.2% in the second quarter. NewEdge Advisors LLC now owns 3,566 shares of the electronics maker’s stock valued at $1,343,000 after buying an additional 986 shares during the last quarter. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Acuity Company Profile

Acuity, formerly known as Acuity Brands, Inc, is an industrial technology company that develops products and systems for lighting, building management and connected spaces. Its offerings are designed for commercial, institutional, industrial and residential applications, helping customers manage illumination, energy use, occupancy and other aspects of the built environment.

The company’s lighting portfolio includes indoor and outdoor fixtures, lighting controls, and related components.