Korea Investment CORP cut its position in shares of Acuity Brands, Inc. (NYSE:AYI) by 51.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,206 shares of the electronics maker’s stock after selling 15,800 shares during the quarter. Korea Investment CORP’s holdings in Acuity Brands were worth $1,762,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of AYI. Itau Unibanco Holding S.A. grew its holdings in shares of Acuity Brands by 72.2% during the second quarter. Itau Unibanco Holding S.A. now owns 1,391 shares of the electronics maker’s stock worth $161,000 after buying an additional 583 shares in the last quarter. Eagle Boston Investment Management Inc. bought a new position in Acuity Brands in the second quarter valued at approximately $206,000. ING Groep NV bought a new position in Acuity Brands in the second quarter valued at approximately $218,000. IFM Investors Pty Ltd bought a new position in Acuity Brands in the second quarter valued at approximately $227,000. Finally, Sei Investments Co. grew its stake in Acuity Brands by 137.1% in the first quarter. Sei Investments Co. now owns 1,660 shares of the electronics maker’s stock valued at $230,000 after purchasing an additional 960 shares in the last quarter.
AYI stock opened at $159.10 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.65 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.96 and a beta of 1.42. Acuity Brands, Inc. has a twelve month low of $109.98 and a twelve month high of $186.99.
Acuity Brands (NYSE:AYI) last issued its earnings results on Tuesday, July 3rd. The electronics maker reported $2.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.20. Acuity Brands had a return on equity of 20.49% and a net margin of 9.28%. The company had revenue of $944.10 million during the quarter, compared to the consensus estimate of $900.46 million. During the same period in the previous year, the company posted $2.15 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts predict that Acuity Brands, Inc. will post 8.26 earnings per share for the current fiscal year.
A number of research analysts have weighed in on AYI shares. JMP Securities set a $170.00 price target on Acuity Brands and gave the company a “buy” rating in a research note on Wednesday, September 12th. Zacks Investment Research upgraded Acuity Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, June 5th. Robert W. Baird upgraded Acuity Brands from a “neutral” rating to an “outperform” rating and set a $185.00 price target for the company in a research note on Friday, September 7th. Goldman Sachs Group downgraded Acuity Brands from a “neutral” rating to a “sell” rating and decreased their price target for the company from $141.00 to $126.00 in a research note on Wednesday, September 12th. Finally, ValuEngine upgraded Acuity Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $158.00.
About Acuity Brands
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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