Weiss Ratings Reaffirms "Buy (B-)" Rating for Acuity (NYSE:AYI)

Key Points

• Weiss Ratings reaffirmed a "Buy (B-)" rating for Acuity (NYSE:AYI), indicating positive investor sentiment around the stock.
• Goldman Sachs increased their price target for Acuity from $312 to $356, while Wells Fargo raised it from $380 to $405, suggesting a growing belief in the company's financial prospects.
• Acuity's shares traded up 1.6% to $352.44 during recent trading, with the stock showing a wide 52-week range between $216.81 and $375.67.

Acuity (NYSE:AYI - Get Free Report)'s stock had its "buy (b-)" rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also weighed in on AYI. The Goldman Sachs Group increased their price target on Acuity from $312.00 to $356.00 and gave the stock a "neutral" rating in a research note on Thursday, October 2nd. Cowen reissued a "buy" rating on shares of Acuity in a research note on Thursday, October 2nd. Wall Street Zen raised Acuity from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Wells Fargo & Company increased their target price on Acuity from $380.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Finally, Zacks Research raised Acuity from a "hold" rating to a "strong-buy" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $395.17.

Acuity Trading Up 1.6%

Shares of Acuity stock traded up $5.58 during trading hours on Wednesday, reaching $352.44. 131,910 shares of the company's stock were exchanged, compared to its average volume of 333,978. Acuity has a 52-week low of $216.81 and a 52-week high of $375.67. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.64. The company has a fifty day moving average of $330.14 and a 200-day moving average of $289.68. The company has a current ratio of 1.95, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Institutional Trading of Acuity

Large investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC acquired a new stake in shares of Acuity during the first quarter valued at about $250,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Acuity during the first quarter valued at about $379,000. Intech Investment Management LLC grew its stake in Acuity by 20.7% in the first quarter. Intech Investment Management LLC now owns 28,533 shares of the electronics maker's stock worth $7,514,000 after purchasing an additional 4,886 shares in the last quarter. Acadian Asset Management LLC grew its stake in Acuity by 12.6% in the first quarter. Acadian Asset Management LLC now owns 542,715 shares of the electronics maker's stock worth $142,907,000 after purchasing an additional 60,784 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Acuity by 12.1% in the first quarter. GAMMA Investing LLC now owns 863 shares of the electronics maker's stock worth $227,000 after purchasing an additional 93 shares in the last quarter. 98.21% of the stock is currently owned by institutional investors and hedge funds.

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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