KeyBanc Starts Acuity Brands (AYI) at Hold; Well Positioned for Upgrade Cycle
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Price: $360.40 +0.55%
Rating Summary:
12 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
12 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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KeyBanc initiates coverage on Acuity Brands (NYSE: AYI) with a Hold.
KeyBanc analyst says, "Acuity Brands, in our opinion, is one of the best ways for investors to gain exposure to the lighting upgrade cycle longer term. Look for Acuity to leverage its robust sales channel to sell higher value lighting systems, ultimately accelerating the Company's organic growth rate and driving margin expansion. We are initiating coverage with a HOLD rating, however, as we believe this positive view is already discounted by investors. We would look to become more constructive on shares in anticipation of improved non-residential construction trends, moderating steel prices, increased adoption of advanced lighting solutions and/or a lower valuation....We are establishing a more conservative FY12 EPS estimate of $3.13, which compares to the Street at $3.32."
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 $55.63 yesterday.
KeyBanc analyst says, "Acuity Brands, in our opinion, is one of the best ways for investors to gain exposure to the lighting upgrade cycle longer term. Look for Acuity to leverage its robust sales channel to sell higher value lighting systems, ultimately accelerating the Company's organic growth rate and driving margin expansion. We are initiating coverage with a HOLD rating, however, as we believe this positive view is already discounted by investors. We would look to become more constructive on shares in anticipation of improved non-residential construction trends, moderating steel prices, increased adoption of advanced lighting solutions and/or a lower valuation....We are establishing a more conservative FY12 EPS estimate of $3.13, which compares to the Street at $3.32."
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 $55.63 yesterday.
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