Acuity Brands Gets a Buy Rating from Canaccord Genuity

By Ryan Adsit

Canaccord Genuity analyst John Quealy reiterated a Buy rating on Acuity Brands (NYSE: AYI) yesterday and set a price target of $215. The company’s shares opened today at $200.09.

According to TipRanks.com, Quealy is a 5-star analyst with an average return of 7.9% and a 56.7% success rate. Quealy covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Ceco Environmental, and Lsi Industries Inc.

Currently, the analyst consensus on Acuity Brands is Moderate Buy and the average price target is $189.20, representing a -5.4% downside.

In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $230 price target.

The company has a one year high of $280.89 and a one year low of $157.33. Currently, Acuity Brands has an average volume of 898.6K.

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Acuity Brands, Inc. provides lighting and building management solutions for the commercial, institutional, industrial, infrastructure and residential applications throughout North America and selects international markets. Its lighting and system control product lines include Lithonia Lighting, Holophane, Peerless, Mark Architectural Lighting, Hydrel, American Electric Lighting, Gotham, Carandini, RELOC, Antique Street Lamps, Tersen, Winona Lighting, Synergy Lighting Controls, Sensor Switch, Lighting Control & Design, Dark to Light, ROAM, Sunoptics, acculamp, Healthcare Lighting and eldoLED. The company was founded in 2001 and is headquartered in Atlanta, GA.