Baird analyst Timothy Wojs raised the firm’s price target on Acuity Brands to $180 from $170 and keeps a Neutral rating on the shares. The firm said its results showed encouraging margin performance despite choppy end markets as record-high gross margins drove EPS upside against lighter revenue, while providing modestly better-than-expected EPS guidance.
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Read More on AYI:
- Acuity Brands Reports Fiscal 2023 Fourth-Quarter and Full-Year Results
- Acuity Brands reports Q4 adjusted EPS $3.97, consensus $3.72
- Acuity Brands Inc (AYI) Q4 Earnings Cheat Sheet
- Acuity Brands Declares Quarterly Dividend
- Acuity Brands price target lowered to $170 from $175 at Baird
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