Acuity Brands (NYSE:AYI) Coverage Initiated at UBS Group

UBS Group started coverage on shares of Acuity Brands (NYSE:AYI) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “sell” rating on the electronics maker’s stock.

Several other brokerages also recently weighed in on AYI. Zacks Investment Research downgraded Acuity Brands from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a report on Tuesday, June 23rd. Cowen upped their target price on Acuity Brands from $115.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Oppenheimer started coverage on Acuity Brands in a research report on Tuesday, August 25th. They set a “buy” rating and a $135.00 target price on the stock. Robert W. Baird lifted their price target on Acuity Brands from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Finally, JMP Securities downgraded shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $99.11.

Shares of AYI traded up $0.59 during trading hours on Tuesday, reaching $105.10. 335,700 shares of the company traded hands, compared to its average volume of 529,394. The stock has a market capitalization of $4.14 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.59 and a beta of 1.43. The stock has a fifty day simple moving average of $106.67 and a 200 day simple moving average of $94.15. Acuity Brands has a fifty-two week low of $67.46 and a fifty-two week high of $143.55. The company has a quick ratio of 1.78, a current ratio of 2.40 and a debt-to-equity ratio of 0.18.

Acuity Brands (NYSE:AYI) last released its earnings results on Tuesday, June 30th. The electronics maker reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.72. The company had revenue of $776.20 million for the quarter, compared to analyst estimates of $746.61 million. Acuity Brands had a net margin of 8.02% and a return on equity of 15.57%. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.53 EPS. Research analysts predict that Acuity Brands will post 6.41 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AYI. Paradice Investment Management LLC purchased a new position in Acuity Brands in the first quarter valued at approximately $48,759,000. Prudential Financial Inc. increased its position in shares of Acuity Brands by 107.5% in the second quarter. Prudential Financial Inc. now owns 701,696 shares of the electronics maker’s stock worth $67,180,000 after acquiring an additional 363,599 shares in the last quarter. FMR LLC raised its stake in shares of Acuity Brands by 14.2% in the 2nd quarter. FMR LLC now owns 2,851,060 shares of the electronics maker’s stock valued at $272,961,000 after acquiring an additional 355,500 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Acuity Brands during the 2nd quarter valued at $24,332,000. Finally, Russell Investments Group Ltd. boosted its position in Acuity Brands by 929.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 258,104 shares of the electronics maker’s stock worth $24,698,000 after purchasing an additional 233,024 shares during the period. 93.32% of the stock is currently owned by institutional investors and hedge funds.

About Acuity Brands

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.

See Also: Strangles

The Fly

Analyst Recommendations for Acuity Brands (NYSE:AYI)

Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.