Credit Suisse AG trimmed its position in Acuity Brands, Inc. (NYSE:AYI) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,168 shares of the electronics maker’s stock after selling 688 shares during the quarter. Credit Suisse AG’s holdings in Acuity Brands were worth $11,346,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Ariel Investments LLC lifted its stake in shares of Acuity Brands by 1.3% in the second quarter. Ariel Investments LLC now owns 31,063 shares of the electronics maker’s stock worth $3,599,000 after buying an additional 400 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Acuity Brands by 24.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,362 shares of the electronics maker’s stock worth $274,000 after buying an additional 470 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Acuity Brands by 14.6% in the second quarter. Nomura Holdings Inc. now owns 3,841 shares of the electronics maker’s stock worth $445,000 after buying an additional 489 shares during the last quarter. Tyers Asset Management LLC lifted its stake in shares of Acuity Brands by 26.3% in the second quarter. Tyers Asset Management LLC now owns 2,768 shares of the electronics maker’s stock worth $321,000 after buying an additional 576 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in shares of Acuity Brands by 22.4% in the second quarter. Riverhead Capital Management LLC now owns 3,189 shares of the electronics maker’s stock worth $370,000 after buying an additional 583 shares during the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.
A number of analysts have recently weighed in on the stock. JMP Securities set a $170.00 price objective on shares of Acuity Brands and gave the stock a “buy” rating in a research note on Wednesday, September 12th. Robert W. Baird upgraded shares of Acuity Brands from a “neutral” rating to an “outperform” rating and set a $185.00 price objective for the company in a research note on Friday, September 7th. Credit Suisse Group began coverage on shares of Acuity Brands in a research note on Friday, October 12th. They issued a “neutral” rating and a $135.00 price objective for the company. Wells Fargo & Co upgraded shares of Acuity Brands from a “market perform” rating to an “outperform” rating and upped their target price for the company from $140.00 to $187.00 in a research note on Thursday, September 20th. Finally, ValuEngine upgraded shares of Acuity Brands from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Acuity Brands presently has a consensus rating of “Hold” and an average price target of $150.89.
NYSE:AYI opened at $117.90 on Friday. The firm has a market cap of $4.83 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.30 and a beta of 1.55. Acuity Brands, Inc. has a one year low of $109.98 and a one year high of $186.99. The company has a quick ratio of 1.17, a current ratio of 1.77 and a debt-to-equity ratio of 0.21.
Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, October 3rd. The electronics maker reported $2.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.56 by $0.12. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Acuity Brands had a net margin of 9.50% and a return on equity of 20.30%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 EPS. As a group, analysts forecast that Acuity Brands, Inc. will post 8.83 earnings per share for the current fiscal year.
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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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