Acuity (NYSE:AYI) Given New $435.00 Price Target at Oppenheimer

Key Points

• Oppenheimer raised Acuity's price target from $380.00 to $435.00, anticipating an 18.08% upside from the current price, while maintaining an "outperform" rating.
• Multiple analysts have recently upgraded their ratings on Acuity, with TD Cowen and Morgan Stanley setting targets at $390.00 and $365.00, respectively.
• Acuity Brands' stock shows strong institutional investor interest, with hedge funds owning 98.21% of the company’s shares, indicating substantial backing from major financial entities.

Acuity (NYSE:AYI - Get Free Report) had its price target lifted by investment analysts at Oppenheimer from $380.00 to $435.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the electronics maker's stock. Oppenheimer's target price points to a potential upside of 18.08% from the company's current price.

Several other research analysts have also recently issued reports on the stock. TD Cowen raised their target price on shares of Acuity from $330.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley lifted their price objective on Acuity from $335.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Wells Fargo & Company reiterated an "overweight" rating and set a $405.00 price target on shares of Acuity in a research report on Thursday. Wall Street Zen raised shares of Acuity from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Robert W. Baird raised their price target on shares of Acuity from $335.00 to $360.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Acuity presently has an average rating of "Moderate Buy" and a consensus price target of $391.00.

Acuity Trading Up 1.5%

Shares of NYSE AYI opened at $368.40 on Thursday. The stock has a market capitalization of $11.29 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 1.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 1.38. The business has a fifty day moving average price of $326.46 and a 200 day moving average price of $287.14. Acuity has a 1-year low of $216.81 and a 1-year high of $375.67.

Institutional Trading of Acuity

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. grew its holdings in shares of Acuity by 1,100.0% during the second quarter. Hantz Financial Services Inc. now owns 96 shares of the electronics maker's stock worth $29,000 after buying an additional 88 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Acuity in the second quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Acuity during the second quarter worth about $36,000. Cullen Frost Bankers Inc. increased its position in Acuity by 525.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker's stock worth $33,000 after purchasing an additional 105 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Acuity by 3,175.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 131 shares of the electronics maker's stock valued at $39,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 98.21% of the company's stock.

Acuity Company Profile

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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