Acuity Brands Inc. (NYSE: AYI)
Acuity Brands Inc. Earnings & Technicals
This morning before the market opened up, AYI reported earnings that slightly missed expectations. They came out with earnings per share of $1.65 compared to analyst’s expectations of $1.58 while sales came out at 736.6 million versus the $740 million expectation. Shares were down slightly to $217 in the premarket but should find some support around the $220 and $210 levels. Resistance should be met around the $226 and $230 price levels. Looking back on the daily you can see that AYI has been on a nice uptrend and with only a couple pullbacks. Look at this as an opportunity to buy the dip to see if this trend continues. The 200-day moving average is currently sitting at $195.73 and would be an ideal target area but we’ll have to see if it reaches that price range.
Acuity Brands, Inc. designs, produces and distributes indoor and outdoor lighting fixtures. The company provide lighting solutions for the commercial, institutional, industrial, infrastructure and residential applications throughout North America and select international markets. Its lighting and system control product lines include Lithonia Lighting, Holophane, Peerless, Mark Architectural Lighting, Hydrel, American Electric Lighting, Gotham, Carandini, RELOC, Antique Street Lamps, Tersen, Winona Lighting, Synergy Lighting Controls, Sensor Switch, Lighting Control & Design, Dark to Light, ROAM, Sunoptics, acculamp, Healthcare Lighting and eldoLED. Acuity Brands was founded in 2001 and is headquartered in Atlanta, GA. (MarketWatch)