Jefferies Starts Acuity Brands (AYI) at Hold

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Jefferies initiates coverage on Acuity Brands (NYSE: AYI) with a Hold rating and $38 price target.

The firm comments, "AYI, the largest provider of efficient fluorescent light products in the U.S. (>60% of revenue) and ~10% LEDs and controls. Despite growth from acquisitions, its business is tied to U.S. construction activity that remains weak."

For more ratings news on Acuity Brands click here and for the rating history of Acuity Brands click here.

Shares of Acuity Brands closed at $44.16 yesterday, with a 52 week range of $33.13-$61.45.

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