Acuity Brands (AYI) is Initiated by Deutsche Bank to Buy, Price Target at $300

Acuity Brands (AYI) was Initiated by Deutsche Bank to “Buy” and the brokerage firm has set the Price Target at $300. Deutsche Bank advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on Acuity Brands. Seaport Global Securities Initiated Acuity Brands on Nov 4, 2016 to “Buy”, Price Target of the shares are set at $290.Acuity Brands was Upgraded by Wells Fargo to ” Outperform” on Oct 31, 2016. Williams Capital Group Initiated Acuity Brands on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $306.

On the company’s financial health, Acuity Brands reported $2.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Oct 5, 2016. Analyst had a consensus of $2.39. The company had revenue of $925.50 million for the quarter, compared to analysts expectations of $946.53 million. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS.

Acuity Brands closed down -2.77 points or -1.10% at $248.96 with 4,07,038 shares getting traded on Monday. Post opening the session at $251.13, the shares hit an intraday low of $246.92 and an intraday high of $252.34 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Nov 10, 2016, Mark A Black (EVP) sold 14,306 shares at $243.05 per share price. According to the SEC, on Jul 12, 2016, Vernon J Nagel (Chairman, President, and CEO) sold 65,060 shares at $268.30 per share price. On Jul 12, 2016, Richard K Reece (EVP/Chief Financial Officer) sold 33,430 shares at $269.07 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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