Canaccord Genuity Assumes Acuity Brands to Buy

Brokerage firm Canaccord Genuity Assumes its rating on Acuity Brands(NYSE:AYI). The shares have been rated Buy. The rating by Canaccord Genuity was issued on Sep 23, 2016.

In a different note, Roth Capital said it Initiates Coverage on Acuity Brands, according to a research note issued on Aug 24, 2016. The shares have been rated ‘Neutral’ by the firm.

Acuity Brands (AYI) made into the market gainers list on Tuesdays trading session with the shares advancing 1.46% or 3.76 points. Due to strong positive momentum, the stock ended at $262.07, which is also near the day’s high of $263.395. The stock began the session at $259.26 and the volume stood at 2,43,268 shares. The 52-week high of the shares is $280.89 and the 52 week low is $168.33. The company has a current market capitalization of $11,501 M and it has 4,38,87,078 shares in outstanding.

Acuity Brands(AYI) last announced its earnings results on Jun 29, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $851.50M. Analysts had an estimated revenue of $847.63M. Earnings per share were $2.06. Analysts had estimated an EPS of $2.03.

Several Insider Transactions has been reported to the SEC. On Jul 12, 2016, Vernon J Nagel (Chairman, President, and CEO) sold 65,060 shares at $268.30 per share price.Also, On Jul 12, 2016, Richard K Reece (EVP/Chief Financial Officer) sold 33,430 shares at $269.07 per share price.On Jul 7, 2016, Mark A Black (EVP) sold 2,654 shares at $250.27 per share price, according to the Form-4 filing with the securities and exchange commission.

Acuity Brands Inc. (Acuity Brands) is the parent company of Acuity Brands Lighting Inc. (ABL) and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial institutional industrial infrastructure and residential applications throughout North America and select international markets. The Company’s lighting solutions include devices such as luminaires lighting controls power supplies prismatic skylights light-emitting diode (LED) lamps and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources including daylight and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions). On March 13 2013 the Company acquired eldoLED Europe BV.

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