Revenue Update on Acuity Brands(NYSE:AYI)

Acuity Brands(NYSE:AYI) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Jun 29, 2016. Company reported revenue of $851.50M. Analysts estimated a revenue of $847.63M. Earnings per share were $2.06. Analysts had estimated an EPS of $2.03.

In a different note, On Apr 7, 2016, Oppenheimer said it Maintains its rating on Acuity Brands. In the research note, the firm Raises the price-target to $245.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 7, 2016, CLSA said it Downgrades its rating on Acuity Brands. The shares have been rated ‘Outperform’ by the firm.

Acuity Brands (AYI) made into the market gainers list on Fridays trading session with the shares advancing 0.92% or 2.29 points. Due to strong positive momentum, the stock ended at $250.25, which is also near the day’s high of $253.78. The stock began the session at $248.55 and the volume stood at 3,19,624 shares. The 52-week high of the shares is $264 and the 52 week low is $168.33. The company has a current market capitalization of $10,983 M and it has 4,38,87,078 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Apr 25, 2016, Vernon J Nagel (Chairman, President, and CEO) sold 47,995 shares at $256.18 per share price.Also, On Apr 14, 2016, Peter C Browning (director) sold 629 shares at $256.05 per share price.On Apr 12, 2016, Mark A Black (EVP) sold 2,678 shares at $248.16 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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