Acuity Brands (NYSE:AYI) Price Target Lowered to $320.00 at Wells Fargo & Company

Acuity Brands (NYSE:AYI) had its price target trimmed by Wells Fargo & Company from $330.00 to $320.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the electronics maker’s stock.

AYI has been the topic of several other reports. Robert W. Baird raised their price objective on Acuity Brands from $280.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 2nd. Oppenheimer lifted their price target on shares of Acuity Brands from $315.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. William Blair raised shares of Acuity Brands from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Acuity Brands has a consensus rating of “Moderate Buy” and a consensus target price of $323.00.

Acuity Brands Stock Down 0.9 %

Shares of AYI opened at $304.72 on Tuesday. The firm has a 50 day simple moving average of $314.79 and a two-hundred day simple moving average of $279.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.72 and a quick ratio of 2.16. Acuity Brands has a one year low of $204.34 and a one year high of $337.99. The company has a market cap of $9.40 billion, a P/E ratio of 22.67, a P/E/G ratio of 2.09 and a beta of 1.40.

Insider Buying and Selling at Acuity Brands

In other Acuity Brands news, SVP Barry R. Goldman sold 5,120 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $305.00, for a total value of $1,561,600.00. Following the sale, the senior vice president now owns 8,438 shares in the company, valued at approximately $2,573,590. The trade was a 37.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Acuity Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its holdings in Acuity Brands by 517.6% during the 3rd quarter. UMB Bank n.a. now owns 105 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Acuity Brands during the third quarter worth $33,000. V Square Quantitative Management LLC bought a new position in Acuity Brands during the third quarter worth $35,000. Prospera Private Wealth LLC acquired a new position in Acuity Brands in the third quarter valued at $62,000. Finally, Quarry LP boosted its position in Acuity Brands by 229.7% during the third quarter. Quarry LP now owns 244 shares of the electronics maker’s stock valued at $67,000 after acquiring an additional 170 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Acuity Brands Company Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.