November 23, 2016 - By Peter Kolinski
Equities researchers at Deutsche Bank has started coverage on Acuity Brands Inc (NYSE:AYI) with a Buy rating. The PT for AYI is exactly $300.00. It suggests a potential upside of 18.28% from company’s last stock close.
Out of 13 analysts covering Acuity Brands Inc. (NYSE:AYI), 10 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 77% are positive. $306 is the highest target while $233 is the lowest. The $279.20 average target is 10.08% above today’s ($253.63) stock price. Acuity Brands Inc. has been the topic of 21 analyst reports since August 21, 2015 according to StockzIntelligence Inc. As per Friday, February 12, the company rating was maintained by Oppenheimer. As per Monday, October 31, the company rating was upgraded by Wells Fargo. Stifel Nicolaus maintained it with “Buy” rating and $250 target price in Monday, January 11 report. The stock of Acuity Brands, Inc. (NYSE:AYI) earned “Buy” rating by Williams Capital Group on Friday, September 30. Canaccord Genuity maintained Acuity Brands, Inc. (NYSE:AYI) on Monday, January 11 with “Buy” rating. The firm has “Buy” rating given on Friday, November 4 by Seaport Global. Oppenheimer maintained Acuity Brands, Inc. (NYSE:AYI) on Tuesday, December 1 with “Outperform” rating. The stock of Acuity Brands, Inc. (NYSE:AYI) has “Overweight” rating given on Saturday, August 22 by Piper Jaffray. The firm has “Outperform” rating by CLSA given on Thursday, April 7. Roth Capital initiated Acuity Brands, Inc. (NYSE:AYI) rating on Thursday, August 25. Roth Capital has “Neutral” rating and $275 price target.
The stock increased 0.83% or $2.08 during the last trading session, hitting $253.63. Acuity Brands, Inc. (NYSE:AYI) has declined 0.77% since April 21, 2016 and is downtrending. It has underperformed by 6.10% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 0.92 in 2016 Q2. Its down 0.11, from 1.03 in 2016Q1. The ratio worsened, as 38 funds sold all Acuity Brands, Inc. shares owned while 162 reduced positions. 79 funds bought stakes while 127 increased positions. They now own 39.63 million shares or 8.26% less from 43.20 million shares in 2016Q1.
Lakeview Prns holds 0.29% of its portfolio in Acuity Brands, Inc. (NYSE:AYI) for 1,914 shares. Pnc Group accumulated 0% or 9,894 shares. Blackrock Invest Mngmt Ltd Liability Corp last reported 0.12% of its portfolio in the stock. First Republic Investment Mgmt has 2,438 shares for 0.01% of their US portfolio. Whittier Trust last reported 0% of its portfolio in the stock. Wfg Advsrs L P last reported 0% of its portfolio in the stock. Mitsubishi Ufj Trust Corp has 0.05% invested in the company for 89,986 shares. State Of Tennessee Treasury Department holds 0.07% or 53,011 shares in its portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0.05% invested in Acuity Brands, Inc. (NYSE:AYI) for 14,795 shares. The New York-based Lombard Odier Asset (Usa) Corp has invested 0.03% in Acuity Brands, Inc. (NYSE:AYI). Essex Invest Company Ltd Liability Company owns 15,100 shares or 0.62% of their US portfolio. Principal accumulated 67,799 shares or 0.02% of the stock. Nordea Investment Mngmt Ab has invested 0% of its portfolio in Acuity Brands, Inc. (NYSE:AYI). Bbr Ptnrs Ltd Liability Corporation holds 0.07% or 1,700 shares in its portfolio. Marco Investment Ltd Com holds 14,500 shares or 0.67% of its portfolio.
Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 5 selling transactions for $30.79 million net activity. The insider Black Mark A sold $664,217. ROBINSON RAY M sold $195,360 worth of Acuity Brands, Inc. (NYSE:AYI) on Friday, July 1. NAGEL VERNON J sold 65,060 shares worth $17.46M. REECE RICHARD K sold $9.00 million worth of stock.
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 has a market cap of $11.30 billion. The Firm operates through North American segment. It has a 38.27 P/E ratio. The Firm offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
According to Zacks Investment Research, “Acuity Brands, Inc. is comprised of the Acuity Lighting Group and Acuity Specialty Products. The Acuity Lighting Group is the world’s largest lighting fixture manufacturer and includes brands such as Lithonia Lighting, Holophane, Peerless, and Hydrel. Acuity Specialty Products is a leading provider of specialty chemicals and includes brands such as Zep, Enforcer, and Selig.”
Acuity Brands, Inc., incorporated on September 20, 2007, is a well-known provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Firm operates through North American segment. The Company’s lighting and building management solutions vary from individual devices to intelligent network systems. The Company’s individual devices include luminaires, lighting controls, lighting components, controllers for various building systems (including heating, ventilation and air conditioning (HVAC), lighting, shades and access control), power supplies and prismatic skylights. The Company’s lighting and building management solutions are marketed under various brand names, including Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, AccuLite, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Carandini, Antique Street Lamps, Sunoptics, RELOC Wiring Solutions, eldoLED, Distech Controls and Acuity Controls. As of August 31, 2016, the Company makes products in 17 facilities in North America and three facilities in Europe.
More notable recent Acuity Brands, Inc. (NYSE:AYI) news were published by: Wsj.com which released: “Acuity Brands Growth Less Than Expected” on October 05, 2016, also Globenewswire.com with their article: “Acuity Brands, Inc. Receives Eight 2016 Product Innovation Awards” published on November 16, 2016, Forbes.com published: “Acuity Brands Becomes Oversold (AYI)” on October 27, 2016. More interesting news about Acuity Brands, Inc. (NYSE:AYI) were released by: Fool.com and their article: “Why Baker Hughes, LGI Homes, and Acuity Brands Jumped Today” published on April 06, 2016 as well as Nasdaq.com‘s news article titled: “Acuity Brands, Inc. New nLight® AIR Wireless Controls Reduce Complexity and …” with publication date: October 12, 2016.
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