Acuity Brands Stock Clears Key Trendline

252-day moving averages account for an entire trading year on the calendar

Nov 2, 2022 at 1:10 PM

Acuity Brands, Inc. (NYSE:AYI) is, per Google Finance, the largest lighting manufacturer in North America. The stock was last seen down 1.2% to trade at $183.30, and while it may not be the flashiest pick, AYI has seen some recent technical developments worth digging in to.

AYI has cleared its 252-day moving average, which marks the number of trading days in the calendar year. This area was toppled last week after serving as resistance back in August. Year-to-date, AYI is down 13%, but has tacked on 16% in this quarter.

AYI Stock Chart

Acuity stock provides a fair valuation at a forward price-earnings ratio of 13.33 and a price-sales ratio of 1.59. AYI also offers a dividend yield of 0.28% at a forward dividend of $0.52.

Moreover, Acuity is expected to report a 4.2% increase in revenues and a 6.9% increase in earnings for fiscal 2023, as well as a 2.7% increase in revenues and a 6.3% increase in earnings for fiscal 2024, reflecting a slow but consistent growth rate. As a result, the stock offers the most opportunity for long-term investors.

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