Acuity (NYSE:AYI) Price Target Lowered to $295.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group cut its price target on Acuity from $342 to $295 and kept a "neutral" rating, implying roughly a 10.37% upside from the prior close.
• Analyst sentiment is mixed but tilts positive with a consensus rating of Moderate Buy and an average target of $369.17, while brokers have recently issued both target cuts and holds.
• Acuity reported an EPS beat (Q: $4.69 vs. $4.45 expected) with revenue up 20.2% year-over-year; the shares trade near $267 with a PE of ~19.6 and a 52-week range of $216.81–$380.17.

Acuity (NYSE:AYI - Get Free Report) had its target price reduced by research analysts at The Goldman Sachs Group from $342.00 to $295.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the electronics maker's stock. The Goldman Sachs Group's target price indicates a potential upside of 10.37% from the company's previous close.

AYI has been the topic of a number of other research reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Acuity in a research note on Friday, March 27th. Morgan Stanley cut their price objective on Acuity from $425.00 to $410.00 and set an "overweight" rating on the stock in a report on Monday, January 12th. William Blair reaffirmed an "outperform" rating on shares of Acuity in a report on Tuesday, December 30th. Wall Street Zen downgraded Acuity from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Robert W. Baird reduced their price target on Acuity from $320.00 to $315.00 and set a "neutral" rating on the stock in a report on Monday. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Acuity presently has an average rating of "Moderate Buy" and a consensus target price of $369.17.

Acuity Price Performance

Acuity stock traded up $1.90 during midday trading on Monday, reaching $267.29. The company's stock had a trading volume of 405,570 shares, compared to its average volume of 478,387. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.25. The stock has a market cap of $8.20 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. Acuity has a 52 week low of $216.81 and a 52 week high of $380.17. The business has a 50-day moving average price of $293.26 and a 200-day moving average price of $332.87.

Acuity (NYSE:AYI - Get Free Report) last posted its earnings results on Thursday, January 8th. The electronics maker reported $4.69 EPS for the quarter, topping analysts' consensus estimates of $4.45 by $0.24. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.14 billion. Acuity had a net margin of 9.37% and a return on equity of 20.74%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.97 earnings per share. On average, sell-side analysts predict that Acuity will post 15.86 EPS for the current year.

Insider Activity at Acuity

In other news, CFO Karen J. Holcom sold 4,974 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $309.23, for a total value of $1,538,110.02. Following the completion of the sale, the chief financial officer owned 21,523 shares of the company's stock, valued at approximately $6,655,557.29. This represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company's stock.

Institutional Trading of Acuity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AYI. Elyxium Wealth LLC bought a new stake in shares of Acuity in the 4th quarter valued at $25,000. Financial Consulate Inc. acquired a new position in Acuity in the third quarter valued at $26,000. Entrust Financial LLC bought a new stake in Acuity during the fourth quarter valued at $27,000. Miller Capital Partners Inc. bought a new stake in Acuity during the fourth quarter valued at $27,000. Finally, Root Financial Partners LLC acquired a new stake in Acuity during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 98.21% of the company's stock.

About Acuity

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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