Oppenheimer Believes Acuity Brands (NYSE: AYI) Won’t Stop Here

By Carrie Williams

In a report released yesterday, Christopher Glynn from Oppenheimer assigned a Buy rating to Acuity Brands (AYIResearch Report), with a price target of $205.00. The company’s shares closed last Friday at $171.29, close to its 52-week high of $173.61.

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 19.2% and a 68.5% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Wesco International.

Acuity Brands has an analyst consensus of Moderate Buy, with a price target consensus of $182.17.

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Based on Acuity Brands’ latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $777 million and net profit of $62.9 million. In comparison, last year the company earned revenue of $824 million and had a net profit of $57.2 million.

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Acuity Brands, Inc. engages in the provision of lighting and building management solutions and services. It caters commercial, institutional, industrial, infrastructure, and residential applications for various markets. It offers luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems for various indoor and outdoor applications. The company was founded in 2001 and is headquartered in Atlanta, GA.