Acuity (NYSE:AYI) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Acuity (NYSE:AYIFree Report) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

Several other analysts have also recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Acuity in a research report on Friday, March 27th. Robert W. Baird dropped their target price on shares of Acuity from $320.00 to $315.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Morgan Stanley lowered their price target on Acuity from $425.00 to $410.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Wells Fargo & Company lowered their price target on Acuity from $385.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Finally, The Goldman Sachs Group lowered their price target on Acuity from $342.00 to $295.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Acuity currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.17.

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Acuity Stock Performance

Shares of Acuity stock opened at $284.84 on Friday. The firm has a fifty day moving average of $288.30 and a two-hundred day moving average of $329.83. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.55 and a beta of 1.42. Acuity has a 52 week low of $225.71 and a 52 week high of $380.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.36 and a current ratio of 2.07.

Acuity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, April 17th. Acuity’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In related news, Director Laura O’shaughnessy acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were acquired at an average cost of $282.98 per share, for a total transaction of $282,980.00. Following the completion of the acquisition, the director directly owned 3,111 shares in the company, valued at approximately $880,350.78. The trade was a 47.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Karen J. Holcom sold 4,974 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $309.23, for a total transaction of $1,538,110.02. Following the sale, the chief financial officer owned 21,523 shares in the company, valued at approximately $6,655,557.29. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Acuity

A number of large investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Acuity by 98.4% during the 3rd quarter. Millennium Management LLC now owns 571,017 shares of the electronics maker’s stock worth $196,653,000 after purchasing an additional 283,203 shares during the last quarter. Vest Financial LLC grew its position in shares of Acuity by 121.3% in the 3rd quarter. Vest Financial LLC now owns 9,312 shares of the electronics maker’s stock valued at $3,207,000 after acquiring an additional 5,105 shares during the period. ASR Vermogensbeheer N.V. grew its position in shares of Acuity by 6.9% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 99,560 shares of the electronics maker’s stock valued at $34,287,000 after acquiring an additional 6,452 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Acuity by 9.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 96,784 shares of the electronics maker’s stock valued at $33,332,000 after acquiring an additional 7,973 shares during the period. Finally, Boston Trust Walden Corp grew its position in shares of Acuity by 10.2% in the 3rd quarter. Boston Trust Walden Corp now owns 319,092 shares of the electronics maker’s stock valued at $109,892,000 after acquiring an additional 29,457 shares during the period. Institutional investors own 98.21% of the company’s stock.

Acuity Company Profile

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Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.

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