Canaccord Genuity Maintains a 'Buy' on Acuity Brands (AYI); Good Near-term Performance in a Tough Market
Tweet
Share
E-mailGet Alerts AYI Hot Sheet
Price: $343.10 +0.42%
Rating Summary:
12 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 16 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Canaccord Genuity maintains a 'Buy' on Acuity Brands (NYSE: AYI), PT lowered to $66.
Canaccord analyst, Jonathan Dorsheimer, says, "Despite continued cost increases from commodities such as steel, fuel and rare-earths among others, gross margins rose to 41.4%, a sequential increase of 200bps, as mix and pricing increases helped to offset these cost pressures...We also believe that the introduction of new products, including energy-efficient and intelligent lighting, will continue to contribute to further margin expansion and future growth...While the macro environment remains tough, we note Acuity is executing in a tough market, growing its share and broadening its product portfolio. As such, we expect a breakout once the non-residential markets return."
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 $55.26 yesterday.
Canaccord analyst, Jonathan Dorsheimer, says, "Despite continued cost increases from commodities such as steel, fuel and rare-earths among others, gross margins rose to 41.4%, a sequential increase of 200bps, as mix and pricing increases helped to offset these cost pressures...We also believe that the introduction of new products, including energy-efficient and intelligent lighting, will continue to contribute to further margin expansion and future growth...While the macro environment remains tough, we note Acuity is executing in a tough market, growing its share and broadening its product portfolio. As such, we expect a breakout once the non-residential markets return."
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 $55.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer
- Benchmark Reiterates Buy Rating on NVIDIA (NVDA), Updates Estimates
Create E-mail Alert Related Categories
Analyst CommentsSign 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!
