KeyBanc Upgrades Acuity Brands (AYI) to Buy; LED Momentum
AYI Hot Sheet
Rating Summary:4 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
KeyBanc upgraded Acuity Brands (NYSE: AYI) to Buy.
KeyBanc analyst says, "LED upgrade cycle to drive superior returns: Following better than feared results and improved LED lighting trends (up 4x year-over-year; margins to be in line with corporate average by year-end), we are upgrading shares to BUY. The confluence of an increasingly stringent regulatory environment, Acuity's recent push into the retrofit market and new technological advancements (LEDs, controls, etc.) should enable the Company to experience organic growth rates well in excess of its peers. Further, if the macroeconomic environment were to deteriorate, AYI's earnings should prove more resilient than its peers given: 1) the already depressed state of the non-residential construction market; 2) the tailwinds from LEDs; and 3) AYI's highly variable operating model."
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 $39.95 yesterday, with a 52 week range of $33.13-$61.45.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
KeyBanc analyst says, "LED upgrade cycle to drive superior returns: Following better than feared results and improved LED lighting trends (up 4x year-over-year; margins to be in line with corporate average by year-end), we are upgrading shares to BUY. The confluence of an increasingly stringent regulatory environment, Acuity's recent push into the retrofit market and new technological advancements (LEDs, controls, etc.) should enable the Company to experience organic growth rates well in excess of its peers. Further, if the macroeconomic environment were to deteriorate, AYI's earnings should prove more resilient than its peers given: 1) the already depressed state of the non-residential construction market; 2) the tailwinds from LEDs; and 3) AYI's highly variable operating model."
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 $39.95 yesterday, with a 52 week range of $33.13-$61.45.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
You May Also Be Interested In
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
- UPDATE: Lowe's (LOW) Beats Q1 Views Amid Lagging Seasonal Demand; Issues Light FY12 Earnings Outlook
- UPDATE: Nomura Securities Upgrades ASML Inc. (ASML) to Buy; Revenue Outlook Underestimated
Create E-mail Alert Related Categories
UpgradesRelated Entities
KeyBanc, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
