Q3 2024 EPS Estimates for Acuity Brands, Inc. (NYSE:AYI) Cut by Analyst

Acuity Brands, Inc. (NYSE:AYI) – Research analysts at William Blair decreased their Q3 2024 earnings estimates for Acuity Brands in a research note issued on Tuesday, June 25th. William Blair analyst R. Merkel now forecasts that the electronics maker will earn $4.09 per share for the quarter, down from their previous forecast of $4.50. The consensus estimate for Acuity Brands’ current full-year earnings is $14.48 per share. William Blair also issued estimates for Acuity Brands’ Q4 2024 earnings at $4.02 EPS, FY2024 earnings at $14.71 EPS and FY2025 earnings at $17.07 EPS.

AYI has been the topic of a number of other research reports. Robert W. Baird cut their price target on shares of Acuity Brands from $286.00 to $280.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Oppenheimer raised their target price on shares of Acuity Brands from $250.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. The Goldman Sachs Group raised their target price on shares of Acuity Brands from $227.00 to $261.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. StockNews.com downgraded shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Acuity Brands from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $287.75.

Acuity Brands Stock Performance

NYSE:AYI opened at $239.77 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.59 and a debt-to-equity ratio of 0.23. The company has a market cap of $7.38 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.64 and a beta of 1.44. Acuity Brands has a fifty-two week low of $154.72 and a fifty-two week high of $272.74. The firm’s 50 day moving average is $254.83 and its two-hundred day moving average is $243.83.

Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, April 3rd. The electronics maker reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.23. The company had revenue of $905.90 million for the quarter, compared to the consensus estimate of $897.01 million. Acuity Brands had a net margin of 9.81% and a return on equity of 21.22%.

Institutional Investors Weigh In On Acuity Brands

Large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its holdings in Acuity Brands by 77.3% during the 4th quarter. Venturi Wealth Management LLC now owns 133 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Acuity Brands during the 1st quarter worth $27,000. EdgeRock Capital LLC acquired a new position in Acuity Brands during the 4th quarter worth $29,000. Raleigh Capital Management Inc. grew its holdings in Acuity Brands by 5,666.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 170 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Acuity Brands by 85.7% during the 4th quarter. Global Retirement Partners LLC now owns 221 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 102 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Maya Leibman purchased 200 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average cost of $248.91 per share, with a total value of $49,782.00. Following the acquisition, the director now owns 200 shares in the company, valued at $49,782. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Maya Leibman purchased 200 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average cost of $248.91 per share, with a total value of $49,782.00. Following the acquisition, the director now owns 200 shares in the company, valued at $49,782. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Karen J. Holcom sold 7,745 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $262.24, for a total transaction of $2,031,048.80. Following the sale, the chief financial officer now directly owns 20,287 shares of the company’s stock, valued at $5,320,062.88. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

About Acuity Brands

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.