Acuity Brands Gets Price Targets Cuts By Analysts After Q2 Results

Acuity Brands, Inc AYI reported mixed Q2 financial results.

Acuity Brands reported net sales growth of 3.8% year-over-year to $943.6 million, missing the consensus of $958.5million. Adjusted EPS of $3.06 beat the consensus of $2.72.

Acuity Brands shares dropped 11% to close at $163.13 on Tuesday.

These analysts made changes to their price targets on Acuity Brands following the release of guidance.

• Wells Fargo cut the price target on Acuity Brands from $193 to $180. Wells Fargo analyst Joseph O'Dea maintained an Overweight rating.
• Baird lowered the price target on Acuity Brands from $192 to $175. Baird analyst Timothy Wojs maintained a Neutral rating.
• Goldman Sachs slashed the price target on Acuity Brands from $201 to $173. Goldman Sachs analyst Brian Lee maintained the stock with a Neutral rating.

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