Robert W. Baird Lowers Acuity (NYSE:AYI) Price Target to $315.00

Key Points

• Robert W. Baird cut Acuity's price target to $315 (from $320) and maintained a "neutral" rating, with the new target implying about a 20.47% upside from the current price.
• Analyst coverage is mixed—five Buy and four Hold ratings—with an average price target of $379.33 and an overall consensus of "Moderate Buy."
• Acuity recently beat quarterly EPS estimates ($4.69 vs. $4.45) and reported revenue growth of 20.2%, yet the stock trades near $261.48; insiders have sold shares and institutional ownership is high at 98.21%.

Acuity (NYSE:AYI - Get Free Report) had its target price cut by research analysts at Robert W. Baird from $320.00 to $315.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the electronics maker's stock. Robert W. Baird's price target suggests a potential upside of 20.47% from the stock's current price.

AYI has been the subject of a number of other reports. William Blair restated an "outperform" rating on shares of Acuity in a report on Tuesday, December 30th. Wells Fargo & Company dropped their price objective on Acuity from $385.00 to $370.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Morgan Stanley cut their price objective on Acuity from $425.00 to $410.00 and set an "overweight" rating for the company in a research report on Monday, January 12th. Wall Street Zen lowered Acuity from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Acuity in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Acuity has an average rating of "Moderate Buy" and an average price target of $379.33.

Acuity Stock Performance

Acuity stock traded down $3.91 during trading hours on Monday, reaching $261.48. 16,600 shares of the company were exchanged, compared to its average volume of 472,470. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.46 and a beta of 1.42. 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 50-day moving average of $293.26 and a 200 day moving average of $332.87. Acuity has a 12 month low of $216.81 and a 12 month high of $380.17.

Acuity (NYSE:AYI - Get Free Report) last released its quarterly earnings results on Thursday, January 8th. The electronics maker reported $4.69 EPS for the quarter, beating analysts' consensus estimates of $4.45 by $0.24. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Acuity had a net margin of 9.37% and a return on equity of 20.74%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.97 earnings per share. As a group, research analysts anticipate that Acuity will post 15.86 earnings per share for the current year.

Insiders Place Their Bets

In other Acuity news, CFO Karen J. Holcom sold 4,974 shares of the business's stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $309.23, for a total value of $1,538,110.02. Following the sale, the chief financial officer owned 21,523 shares of the company's stock, valued at $6,655,557.29. The trade was a 18.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Acuity

Several institutional investors have recently made changes to their positions in AYI. Elyxium Wealth LLC bought a new position in Acuity during the fourth quarter worth about $25,000. Miller Capital Partners Inc. bought a new stake in shares of Acuity in the 4th quarter valued at approximately $27,000. Financial Consulate Inc. acquired a new position in shares of Acuity in the 3rd quarter worth approximately $26,000. Entrust Financial LLC bought a new position in shares of Acuity during the 4th quarter worth approximately $27,000. Finally, Root Financial Partners LLC bought a new position in shares of Acuity during the 3rd quarter worth approximately $33,000. 98.21% of the stock is currently owned by institutional investors and hedge funds.

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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