Oppenheimer Believes Acuity Brands (AYI) Still Has Room to Grow

In a report released today, Christopher Glynn from Oppenheimer assigned a Buy rating to Acuity Brands (AYI), with a price target of $205.00. The company’s shares closed last Wednesday at $175.64, close to its 52-week high of $194.59.

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 19.8% and a 67.6% 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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Acuity Brands’ market cap is currently $6.32B and has a P/E ratio of 22.30. The company has a Price to Book ratio of 24.78.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AYI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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