Acuity (NYSE:AYI) Reaches New 52-Week High – Here’s Why

Acuity, Inc. (NYSE:AYI)’s share price hit a new 52-week high on Monday . The company traded as high as $380.00 and last traded at $377.97, with a volume of 47766 shares changing hands. The stock had previously closed at $373.33.

Analysts Set New Price Targets

AYI has been the subject of several analyst reports. Wall Street Zen upgraded shares of Acuity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Morgan Stanley lifted their target price on shares of Acuity from $365.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Robert W. Baird raised their price target on Acuity from $335.00 to $360.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. William Blair reissued an “outperform” rating on shares of Acuity in a research note on Tuesday, December 30th. Finally, Wells Fargo & Company boosted their target price on Acuity from $380.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $395.17.

Acuity Trading Up 1.2%

The company has a quick ratio of 1.33, a current ratio of 1.95 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $362.67 and a 200-day moving average price of $337.72. The company has a market cap of $11.60 billion, a P/E ratio of 30.18, a PEG ratio of 2.00 and a beta of 1.50.

Insider Buying and Selling

In other news, SVP Barry R. Goldman sold 4,687 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $368.01, for a total transaction of $1,724,862.87. Following the completion of the transaction, the senior vice president owned 10,545 shares of the company’s stock, valued at approximately $3,880,665.45. The trade was a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Acuity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Acuity by 25.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 152 shares of the electronics maker’s stock valued at $52,000 after buying an additional 31 shares during the period. Clearstead Advisors LLC increased its holdings in Acuity by 0.5% in the third quarter. Clearstead Advisors LLC now owns 6,269 shares of the electronics maker’s stock worth $2,159,000 after purchasing an additional 31 shares in the last quarter. Illumine Investment Management LLC lifted its stake in Acuity by 1.2% in the third quarter. Illumine Investment Management LLC now owns 2,872 shares of the electronics maker’s stock valued at $989,000 after buying an additional 33 shares during the period. Diversified Trust Co boosted its holdings in shares of Acuity by 0.6% during the 3rd quarter. Diversified Trust Co now owns 5,577 shares of the electronics maker’s stock worth $1,921,000 after buying an additional 35 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Acuity by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 2,134 shares of the electronics maker’s stock worth $637,000 after buying an additional 37 shares during the period. 98.21% of the stock is currently owned by institutional investors and hedge funds.

About Acuity

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.