Acuity Brands (NYSE:AYI) Announces Quarterly Earnings Results

Acuity Brands (NYSE:AYI) released its quarterly earnings results on Wednesday. The electronics maker reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.10, RTT News reports. Acuity Brands had a net margin of 11.00% and a return on equity of 20.49%. The business had revenue of $951.60 million for the quarter, compared to analyst estimates of $955.60 million. During the same quarter in the previous year, the business earned $3.72 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year.

Acuity Brands Price Performance

Shares of AYI opened at $312.99 on Thursday. The firm has a market cap of $9.66 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. Acuity Brands has a 52-week low of $214.32 and a 52-week high of $337.99. The business’s 50 day moving average price is $315.01 and its two-hundred day moving average price is $279.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.16 and a current ratio of 2.72.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Oppenheimer upped their target price on Acuity Brands from $315.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company decreased their price objective on Acuity Brands from $330.00 to $320.00 and set an “equal weight” rating on the stock in a report on Tuesday. StockNews.com raised Acuity Brands from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley initiated coverage on shares of Acuity Brands in a research note on Monday. They issued an “equal weight” rating and a $304.00 target price for the company. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Acuity Brands currently has an average rating of “Moderate Buy” and an average target price of $323.00.

Insider Transactions at Acuity Brands

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

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.