Key Points
- CEO Neil Ashe sold 8,187 Acuity shares at an average price of $324.44, generating approximately $2.66 million; the transaction reduced his holdings by 9.49% and was executed under a pre-arranged Rule 10b5-1 plan. He also sold 22,060 shares worth about $7.0 million the prior day.
- Acuity reported quarterly adjusted earnings of $5.77 per share, exceeding estimates of $5.57, while revenue reached $1.24 billion, up 2.9% year over year.
- Analysts collectively rate Acuity “Hold,” with a consensus price target of $374.20, while institutional investors own 98.21% of the company’s stock.
Acuity, Inc. (NYSE:AYI - Get Free Report) CEO Neil Ashe sold 8,187 shares of the stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $324.44, for a total value of $2,656,190.28. Following the completion of the transaction, the chief executive officer owned 78,075 shares of the company's stock, valued at $25,330,653. This trade represents a 9.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Ashe also recently made the following trade(s):
- On Wednesday, October 28th, Neil Ashe sold 22,060 shares of Acuity stock. The stock was sold at an average price of $317.33, for a total value of $7,000,299.80.
Acuity Stock Performance
Shares of AYI opened at $317.77 on Friday. The company has a 50-day moving average of $314.96 and a two-hundred day moving average of $309.91. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.70 and a quick ratio of 1.28. Acuity, Inc. has a one year low of $257.04 and a one year high of $380.17.
Acuity (NYSE:AYI - Get Free Report) last released its quarterly earnings results on Thursday, October 1st. The electronics maker reported $5.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.57 by $0.20. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Acuity had a net margin of 11.45% and a return on equity of 20.30%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.20 earnings per share. On average, equities research analysts expect that Acuity, Inc. will post 20.04 earnings per share for the current year.
Acuity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 16th will be issued a $0.20 dividend. The ex-dividend date is Friday, October 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.3%. Acuity's dividend payout ratio is presently 4.68%.
Analyst Ratings Changes
AYI has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Acuity from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Tuesday, October 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Acuity in a research note on Tuesday, September 22nd. Oppenheimer decreased their price objective on Acuity from $440.00 to $415.00 and set an "outperform" rating for the company in a research report on Thursday, October 8th. William Blair cut Acuity from an "outperform" rating to a "market perform" rating in a research note on Monday, September 28th. Finally, Wall Street Zen cut Acuity from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Acuity presently has an average rating of "Hold" and a consensus price target of $374.20.
View Our Latest Research Report on Acuity
Institutional Investors Weigh In On Acuity
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Acuity in the second quarter worth $1,121,983,000. Bank of America Corp DE purchased a new stake in shares of Acuity during the second quarter worth $106,018,000. Alua Capital Management LP purchased a new stake in shares of Acuity during the first quarter worth $63,377,000. Bank of New York Mellon Corp purchased a new stake in shares of Acuity during the second quarter worth $77,212,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Acuity by 87.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 213,801 shares of the electronics maker's stock valued at $59,911,000 after purchasing an additional 100,036 shares during the last quarter. Institutional investors and hedge funds own 98.21% of the company's stock.
Acuity Company Profile
(
Get Free Report)
Acuity (NYSE: AYI), formerly known as Acuity Brands, is a technology company focused on improving how people experience and manage indoor and outdoor spaces. Its businesses develop lighting, lighting controls, building-management systems and related solutions for commercial, institutional, industrial and residential applications.
The company's offerings include LED lighting fixtures, connected lighting systems, sensors, controls, building automation technologies and location-aware software.
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