U.S. Markets closed

Weakness Seen in Acuity Brands (AYI): Stock Plunges 14.9%

Zacks Equity Research

Acuity Brands, Inc. (AYI) saw a big move last session, as the company’s shares fell by nearly 15% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. The stock had gained about 8% from Jun 12 to Jun 30, but then it dropped sharply by about 15%.
The lighting products company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
AYI currently has a Zacks Rank #3 (Hold).
Investors interested in the construction sector may consider better-ranked stocks like Armstrong World Industries, Inc. (AWI), Gibraltar Industries, Inc. (ROCK) and Tutor Perini Corporation (TPC). All these stocks carry a Zacks Rank #1 (Strong Buy).
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

GIBRALTAR IND INC (ROCK): Free Stock Analysis Report

ARMSTRONG WORLD INC (AWI): Free Stock Analysis Report

TUTOR PERINI CORP (TPC): Free Stock Analysis Report

Zacks Investment Research