According to a report released on Thursday, equity research analysts who work for StockNews.com have started covering Acuity Brands (NYSE: AYI).
The company has recommended a “strong buy” for the common stock of the electronics manufacturer.
The business issued this recommendation.
Acuity Brands (NYSE: AYI) updated its most recent quarterly financial report on January 9, when it announced the results of the report.
Earnings per share (EPS) for the quarter the electronics manufacturer reported came in at $3.04, a figure that was $0.34 higher than the consensus estimate of $2.70.
This was a positive surprise for the company.
According to the analysts’ projections, the company’s revenue during the current quarter could fall between $984.46 million and $997.90 million.
Acuity Brands had a return on equity of 21.40 percent, and the company’s net margin was 9.11 percent.
The company’s revenue in the third quarter increased by 7.8% compared to the same period in the previous year’s financial report.
The company’s earnings per share for the quarter were $2.85, comparable to the same quarter’s results in the previous year.
According to market watchers’ projections, Acuity Brands is expected to generate earnings of 12.4 cents per share this year.
When trading started on Thursday, the price of a share of Acuity Brands was $185.43 per share.
The ratio of the company’s price to its earnings is 1.53, and its price-to-earnings-growth ratio is also 1.53.
The company has a beta value of 1.59.
The company’s total value, as represented by its market capitalization, is $5.94 billion.
All three ratios, debt-to-equity, current, and quick, arrive at the same value: 0.26, 2.09, and 1.39, respectively.
The current price of a share of the company’s stock is $186.57, which is higher than the company’s fifty-day moving average price of $177.76. Over the last 52 weeks, the price of an Acuity Brands share has fluctuated between a low of $142.71 and a high of $202.90.
Several equity research analysts have also penned publications about the stock in question. UBS Group increased their price target on Acuity Brands shares from $170.00 to $180.00 in a research report disseminated on Tuesday, January 10.
In a research note distributed on Friday, December 16, Robert W.
Baird lowered their target price on Acuity Brands from $200 to $190, downgrading the company from “outperform” to “neutral.” The changes were made to the company’s stock.
Last but not least, in a research report on Thursday, January 5, Wells Fargo & Company upgraded Acuity Brands to “overweight” status and raised their price target for the company’s shares from $188.00 to $193.00.
There are a total of seven different analyst ratings that have been assigned to the stock.
These ratings are as follows: five buy ratings, one strong buy rating, two hold ratings, and five buy ratings.
According to information provided by Bloomberg, the general opinion of Acuity Brands is that it is a “Moderate Buy,” and the average price objective is $200.00.
On the same day, January 11, Senior Vice President and General Counsel Barry R. Goldman sold 2,211 shares of the company’s stock.
It was determined that each share was sold at an average price of $174.31, which led to a total sale volume of 385,399.41 dollars.
The price at which the shares were sold was determined.
The senior vice president now owns 5,791 company shares, which have a combined value of approximately $1,009,429.21 as a result of the transaction.
If you follow this link, you will be taken to the SEC filing in which the sale was disclosed.
Please click on the link to proceed. On January 11, other news included the announcement that Karen J. Holcom, Chief Financial Officer of the company, had sold 4,238 shares of the company’s stock.
As a result of the sale of the shares at an average price of $174.51 per share, the total sale volume was calculated to be $739,573.38. Following the completion of the transaction, the chief financial officer will have 16,856 shares of the company’s stock, which currently have a value of $2,941,540.56.
If you follow this link, you will be taken to the SEC filing in which the sale was disclosed.
Please click on the link to proceed.
In addition, Senior Vice President Barry R. Goldman sold 2,211 of the company’s shares of stock on January 11.
The stock sale generated total revenue of $385,399.41, with each share costing $174.31.
The senior vice president now owns 5,791 company shares, which have a combined value of approximately $1,009,429.21 as a result of the transaction.
Disclosures related to the sale might be found in this website section.
The company’s executives own 1.10 percent of the company’s shares between them.
Recently, several hedge funds and institutional investors have either increased their holdings in the stock or reduced the amount they have invested in it.
In the fourth quarter, Voya Investment Management LLC increased the percentage of Acuity Brands stock owned by 17.9%.
After purchasing an additional 6,227 shares during the preceding quarter, Voya Investment Management LLC now holds 40,983 shares of the electronics manufacturer’s stock, valued at $6,787,000.
Macquarie Group Ltd increased the proportion of Acuity Brands owned by 7.5% over the final three months of 2018.
Macquarie Group Ltd now has a total of 55,583 shares of the stock of the electronics company after purchasing an additional 3,865 shares during the most recent period.
This brings the company’s total number of shares to 55,583.
The current value of these shares is $9,205,000.
During the last three months of 2018, Trust Financial Corporation increased its holdings in Acuity Brands by 13.6%.
During the period in question, Trust Financial Corporation completed the acquisition of an additional 415 shares, bringing the total number of shares purchased to 3,463, with a value of $574,000.
A fresh investment of approximately $335,000 was made in Acuity Brands by Linden Thomas Advisory Services LLC during the fourth quarter of the fiscal year.
In the last three months of 2018, Point72 Middle East FZE increased its portfolio by purchasing a new position in Acuity Brands valued at approximately 521,000 dollars.
This was not the only addition made to the portfolio, however.
Most of the company’s stock is held by institutional investors and hedge funds, which account for 93.8 percent of the total.