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Who is the breadwinner in your family and does it matter?

Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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Acuity Brands (AYI)

Headquartered in Atlanta, GA, Acuity Brands, Inc. is the parent company of Acuity Brands Lighting, Inc. (“ABL”) and other subsidiaries. The company manufactures and distributes lighting fixtures and related components that comprise devices such as luminaries, lighting controls, and controllers for various building systems, power supplies, prismatic skylights, and drivers, as well as integrated systems designed to optimize energy efficiency and comfort for various indoor and outdoor applications.

AYI is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of A. Earnings are expected to grow 9.4% year-over-year for the current fiscal year, with sales growth of 1.3%.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.58 to $15.37 per share. AYI boasts an average earnings surprise of 11%.

On a historic basis, Acuity Brands has generated cash flow growth of 4.2%, and is expected to report cash flow expansion of 0.5% this year.

AYI should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

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Acuity Brands Inc (AYI) : Free Stock Analysis Report

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Zacks Investment Research