Acuity Brands Stock Clears Key Trendline

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

facebook twitter linkedin


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.

 
 

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!