Acuity Brands (NYSE:AYI) Rating Reaffirmed
The brokerage has just set a price target of $265 on Acuity Brands (NYSE:AYI) shares. This is 13.65% from the closing share price. In an analyst research report distributed to Clients on Tuesday morning, Oppenheimer reiterated their “Outperform” rating on shares of AYI.
From a total of 10 analysts covering Acuity Brands Inc. (NYSE:AYI) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 69% of the ratings are positive. The highest target price is $275 while the lowest target price is $198. The mean of all analyst targets is $231.9 with a 11.93% above today’s ($233.18) stock price. Acuity Brands Inc. was the topic of 5 analyst reports since August 21, 2015 according to the firm StockzIntelligence Inc. Canaccord Genuity maintained shares on November 30 with “Buy” rating.
Approximately 2,914 shares of stock traded hands. Acuity Brands, Inc. (NYSE:AYI) has risen 39.42% since April 28, 2015 and is uptrending. It has outperformed by 41.04% the S&P500.
Analysts await Acuity Brands, Inc. (NYSE:AYI) to reports earnings on January, 8. They expect $1.61 earnings per share, up 21.97% or $0.29 from last year’s $1.32 per share. AYI’s profit will be $70.70 million for 36.21 P/E if the $1.61 EPS becomes reality. After $1.63 actual earnings per share reported by Acuity Brands, Inc. for the previous quarter, Wall Street now forecasts -1.23% negative EPS growth.
Acuity Brands, Inc. , is the parent firm of Acuity Brands Lighting, Inc. (ABL), and other subsidiaries. The company has a market cap of $10.24 billion. Acuity Brands is a well-known provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets. It has 45.75 P/E ratio. The Company’s lighting solutions include devices, such as luminaires, lighting controls, power supplies, prismatic skylights, light-emitting diode (LED) lamps, and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources, including daylight, and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions).
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.” Get a free copy of the Zacks research report on Acuity Brands, Inc. (AYI)