Acuity Brands (AYI) is Initiated by ROTH Capital to Neutral, Price Target at $275

Acuity Brands (AYI) was Initiated by ROTH Capital to “Neutral” and the brokerage firm has set the Price Target at $275. ROTH Capital advised their investors in a research report released on Aug 25, 2016.

On the company’s financial health, Acuity Brands reported $2.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $2.03. The company had revenue of $851.50 million for the quarter, compared to analysts expectations of $847.59 million. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Acuity Brands opened for trading at $278.4 and hit $280.89 on the upside on Tuesday, eventually ending the session at $279.15, with a gain of 0.58% or 1.61 points. The heightened volatility saw the trading volume jump to 1,54,014 shares. Company has a market cap of $12,251 M.

In a different news, on Jul 12, 2016, Vernon J Nagel (Chairman, President, and CEO) sold 65,060 shares at $268.30 per share price. According to the SEC, on Jul 12, 2016, Richard K Reece (EVP/Chief Financial Officer) sold 33,430 shares at $269.07 per share price. On Jul 7, 2016, Mark A Black (EVP) sold 2,654 shares at $250.27 per share price, according to the Form-4 filing with the securities and exchange commission.

Acuity Brands Inc. (Acuity Brands) is the parent company of Acuity Brands Lighting Inc. (ABL) and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial institutional industrial infrastructure and residential applications throughout North America and select international markets. The Company’s lighting solutions include devices such as luminaires lighting controls power supplies prismatic skylights light-emitting diode (LED) lamps and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources including daylight and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions). On March 13 2013 the Company acquired eldoLED Europe BV.

Acuity Brands

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