Is It Time To Review Stock News? Acuity Brands (NYSE:AYI)

Acuity Brands (NYSE:AYI) stock observed trading -22.45% off 52-week high price. On the other end, the stock has been noted 29.66% away from low price over the last 52-weeks. The stock disclosed a move of -3.00% away from 50 day moving average and 2.35% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.19% off 20-day moving average. It has market cap of $5356.07M and dividend yield of 0.39%.

Acuity Brands (NYSE:AYI)  announced it has acquired WhiteOptics, L.L.C. (WhiteOptics®), a New Castle, DE-based manufacturer of advanced optical components used to reflect, diffuse and control light for LED lighting used in commercial and institutional applications.

WhiteOptics’ product portfolio includes light guide plates, optical diffusers and innovative micro-structure lenses that provide a unique three-dimensional appearance.  WhiteOptics’ transmissive products include optics that improve the quality of light to support a favorable Unified Glare Rating (UGR) and superior luminaire efficiency and energy savings.  The convergence of these benefits is in sync with market trends toward lower glare LED solutions that also meet stringent energy requirements.

Optical systems have become increasingly complex as LED technology has evolved, said Tommy Harris, Vice President – Indoor Product Solutions, Acuity Brands Lighting. WhiteOptics has a broad offering of optical materials to further enhance the performance of our commercial and architectural products. These materials enable more visual comfort, unique light distributions, and three-dimensional images that can enhance the look and feel of a space.

Acuity Brands has always valued optical performance, said Eric Teather, President, WhiteOptics.  Our advanced materials and processing technology will allow Acuity to increase their offering of unique and advanced designs to its customers.

The acquisition is not expected to materially impact the Company’s fiscal 2019 consolidated financial performance.  Terms of the acquisition were not disclosed. The USA based company Acuity Brands moved with change of -0.02% to $134.17 with the total traded volume of 322158 shares in recent session versus to an average volume of 363.34K. The stock was observed in the 5 days activity at 0.50%. The one month performance of stock was -3.40%. AYI’s shares are at 12.80% for the quarter and driving a 11.83% return over the course of the past year and is now at 16.72% since this point in 2018.  Right now the stock beta is 1.63. The average volatility for the week and month was at 2.18% and 2.55% respectively. There are 39.92M shares outstanding and 39.45M shares are floated in market.

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