Acuity (NYSE:AYI) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• Acuity (NYSE:AYI) has received a "buy (B-)" rating from Weiss Ratings, reaffirming positive sentiment from investment analysts.
• Multiple research firms have raised their price targets, with Wells Fargo increasing it from $380.00 to $405.00 and Zacks upgrading it to a "strong-buy".
• Acuity's current average rating is "Moderate Buy", and its consensus price target stands at $395.17, indicating confidence among analysts.

Acuity (NYSE:AYI - Get Free Report)'s stock had its "buy (b-)" rating reiterated by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. Cowen reissued a "buy" rating on shares of Acuity in a research note on Thursday, October 2nd. Wells Fargo & Company increased their target price on Acuity from $380.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Zacks Research raised Acuity from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Robert W. Baird raised their price target on Acuity from $335.00 to $360.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group raised their price target on Acuity from $312.00 to $356.00 and gave the stock a "neutral" rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $395.17.

Acuity Trading Down 0.6%

NYSE:AYI traded down $2.26 during mid-day trading on Friday, hitting $368.08. The company had a trading volume of 46,616 shares, compared to its average volume of 329,499. Acuity has a fifty-two week low of $216.81 and a fifty-two week high of $375.67. The business's fifty day moving average is $341.64 and its two-hundred day moving average is $297.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.95. The firm has a market cap of $11.28 billion, a P/E ratio of 29.39, a P/E/G ratio of 1.92 and a beta of 1.64.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Financial Consulate Inc. bought a new position in shares of Acuity during the third quarter worth about $26,000. Hantz Financial Services Inc. grew its stake in Acuity by 1,100.0% in the second quarter. Hantz Financial Services Inc. now owns 96 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Acuity in the second quarter valued at approximately $32,000. Cullen Frost Bankers Inc. grew its stake in Acuity by 525.0% in the first quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 105 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Acuity in the second quarter valued at approximately $36,000. 98.21% of the stock is currently owned by institutional investors.

About Acuity

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.

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