Is Major Move Coming For Acuity Brands, Inc. (AYI) After This Wedge Down Pattern?

April 21, 2018 - By Vivian Currie

Acuity Brands, Inc. (NYSE:AYI) Logo

Investors sentiment increased to 0.95 in 2017 Q4. Its up 0.11, from 0.84 in 2017Q3. It increased, as 34 investors sold Acuity Brands, Inc. shares while 134 reduced holdings. 57 funds opened positions while 102 raised stakes. 42.13 million shares or 1.49% more from 41.52 million shares in 2017Q3 were reported.
Canada Pension Plan Inv Board accumulated 0% or 33 shares. Federated Pa accumulated 718 shares or 0% of the stock. Gemmer Asset Mngmt Limited Liability Com reported 23 shares. Pnc Grp Incorporated stated it has 0% of its portfolio in Acuity Brands, Inc. (NYSE:AYI). Advantus Capital holds 0.02% or 4,182 shares. Zurcher Kantonalbank (Zurich Cantonalbank) invested 0.02% of its portfolio in Acuity Brands, Inc. (NYSE:AYI). Mitsubishi Ufj And Banking invested in 0.03% or 86,607 shares. Td Asset Inc accumulated 45,972 shares or 0.01% of the stock. Artisan Prtn Ltd Partnership accumulated 233,523 shares or 0.08% of the stock. Amer Century Inc reported 805,320 shares stake. Tudor Et Al has 14,882 shares for 0.07% of their portfolio. Strs Ohio stated it has 531 shares. Schwab Charles Inv reported 0.03% stake. 495 were reported by Rampart Investment Management Lc. Oregon Pub Employees Retirement Fund holds 0.03% or 10,600 shares in its portfolio.

The stock of Acuity Brands, Inc. (AYI) formed a down wedge with $118.97 target or 7.00 % below today’s $127.93 share price. The 5 months wedge indicates high risk for the $5.19 billion company. If the $118.97 price target is reached, the company will be worth $363.16M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.67% or $0.86 during the last trading session, reaching $127.93. About 708,553 shares traded or 1.18% up from the average. Acuity Brands, Inc. (NYSE:AYI) has declined 31.54% since April 21, 2017 and is downtrending. It has underperformed by 43.09% the S&P500.

Analysts await Acuity Brands, Inc. (NYSE:AYI) to report earnings on July, 5. They expect $2.02 EPS, down 0.49 % or $0.01 from last year’s $2.03 per share. AYI’s profit will be $81.92 million for 15.83 P/E if the $2.02 EPS becomes a reality. After $1.72 actual EPS reported by Acuity Brands, Inc. for the previous quarter, Wall Street now forecasts 17.44 % EPS growth.

Acuity Brands, Inc. (NYSE:AYI) Ratings Coverage

Among 9 analysts covering Acuity Brands (NYSE:AYI), 3 have Buy rating, 1 Sell and 5 Hold. Therefore 33% are positive. Acuity Brands had 17 analyst reports since November 9, 2017 according to SRatingsIntel. On Tuesday, January 9 the stock rating was maintained by Robert W. Baird with “Hold”. The rating was maintained by Robert W. Baird with “Hold” on Wednesday, December 13. The firm has “Hold” rating by Wells Fargo given on Thursday, April 5. Canaccord Genuity maintained the stock with “Buy” rating in Wednesday, January 10 report. Seaport Global downgraded the shares of AYI in report on Thursday, January 11 to “Hold” rating. Roth Capital maintained Acuity Brands, Inc. (NYSE:AYI) rating on Thursday, November 9. Roth Capital has “Sell” rating and $130.0 target. The stock of Acuity Brands, Inc. (NYSE:AYI) has “Hold” rating given on Tuesday, January 9 by Wells Fargo. Cowen & Co maintained the stock with “Buy” rating in Wednesday, April 4 report. Robert W. Baird maintained it with “Hold” rating and $168.0 target in Friday, March 16 report. The stock of Acuity Brands, Inc. (NYSE:AYI) has “Hold” rating given on Wednesday, April 4 by Robert W. Baird.

Acuity Brands, Inc. (NYSE:AYI) Ratings Chart

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