Canaccord Genuity Reiterates a Buy Rating on Acuity Brands

By George MacDonald

In a report released yesterday, Jonathan Dorsheimer from Canaccord Genuity reiterated a Buy rating on Acuity Brands (NYSE: AYI), with a price target of $187. The company’s shares opened today at $168.16, close to its 52-week high of $172.76.

Dorsheimer commented, “We maintain our BUY rating on AYI shares heading into the company’s FQ2 results this week. We continue to believe AYI represents a core holding for SMID-cap portfolios. We believe AYI is best positioned to deliver meaningful value in the adoption of SSL solutions and capitalizes on collapsing component pricing while delivering value-added SSL benefits, resulting in top-line acceleration with margin expansion. Investment highlights • AYI will report FQ2 2015 results on April 1 before the open. We expect sales of roughly $628.3M and pro forma EPS of $1.05 compared to consensus estimates of $627M and $1.06”

Currently, the analyst consensus on Acuity Brands is Moderate Buy and the average price target is $180, representing a 7.0% upside. In a report issued on March 27, Oppenheimer also reiterated a Buy rating on the stock with a $190 price target.

The company has a one year high of $172.76 and a one year low of $104.49. Currently, Acuity Brands has an average volume of 361.2k.

According to, Dorsheimer is a 1-star analyst with an average return of -0.7% and a 40.2% success rate. Dorsheimer covers the Technology sector, focusing on stocks such as Maxwell Technologies, Canadian Solar Inc, and Rubicon Technology.

Acuity Brands Inc is engaged in designing, producing and distributing lighting solutions, components, and services for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and international markets.