Here's Why Acuity Brands (AYI) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Acuity Brands (AYI)
Headquartered in Atlanta, GA, Acuity Brands, Inc. is the parent company of Acuity Brands Lighting, Inc. (“ABL”) and other subsidiaries. The company manufactures and distributes lighting fixtures and related components that comprise devices such as luminaries, lighting controls, and controllers for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems designed to optimize energy efficiency and comfort for various indoor and outdoor applications.
AYI boasts a Growth Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 6.7% year-over-year for 2023, while Wall Street anticipates its top line to improve by 1.5%.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.21 to $13.69 per share. AYI boasts an average earnings surprise of 17.3%.
On a historic basis, Acuity Brands has generated cash flow growth of 4%, and is expected to report cash flow expansion of 14.3% this year.
Investors should take the time to consider AYI for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Acuity Brands Inc (AYI) : Free Stock Analysis Report
