Million

Rise

<ul class="list-ic vertical">
 <li><span>1</span> <a>Acuity Brands’ stock price closed at $179.00 while witnessing a gain of 6.94% during the last intraday trading session.&nbsp;</a></li>
 <li><span>2</span> <a>Acuity Brands released its Quarter 4 earnings report.&nbsp;</a></li>
 <li><span>3</span> <a>The year-to-date return of AYI stock is 6.49%.</a></li>
</ul>
<p>Acuity Brands (AYI) stock price was stuck in a narrow consolidation zone, ranging between $157.50 and $171.00. The stock price attempted several times to rise and close above $171 but was unsuccessful due to the strong presence of bears above it. AYI stock price consolidated for more than two months.&nbsp;</p>
<p>The last candle successfully broke the resistance level and closed above it. The Quarter 4 earning report boosted the price. If the bullish momentum prevails, the stock price might rise toward the next resistance level of $185.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="591" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73-1024x591.png" alt="Acuity Brands (AYI) Stock: Why Did AYI Stock Price Shoot Up?" class="wp-image-173554" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73-1024x591.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73-300x173.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73-768x443.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73-750x433.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73-1140x658.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-73.png 1468w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: AYI Stock Price By <a href="https://www.tradingview.com/x/Bz7SiUzF/" rel="noopener noreferrer nofollow">TradingView</a>.
  </figcaption>
 </figure>
</div>
<p>Conversely, if the bears enter the market, the stock price may retest the previous zone, and resistance is turned into support of $171. For the price to retest an annual high, it must rise above $185.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-quarterly-report-analysis-of-acuity-brands-strong"><strong>Quarterly Report Analysis of Acuity Brands</strong>&nbsp;</h2>
<p>Atlanta-based Acuity Brands reported its Quarter 4 2023 results on 4th October before the markets opened. The news from the lighting and building management company was reasonably good. Its shares are up more than 7% in intra-day trading.</p>
<p>Acuity Brands posted a revenue of $1.01 Billion, down 9% over the same quarter the prior year. The earnings per share was $3.97, up from the $3.95 reported in last year’s fourth quarter. In fiscal year 2023, the company reported a revenue of $3.95 Billion, down 1.3% from the previous year.&nbsp;</p>
<p>The adjusted operating profit was $597.4 Million, a rise of 1.6% from the previous year. Its adjusted earnings per share earned $14.05 which was 9.5% higher than a year earlier. This might be the primary driver of the spike that occurred in AYI stock.</p>
<p>For the 2023 fiscal year, the consensus expected earnings per share of $13.81 in 2023. It crushed by 24 cents or 1.7%. Acuity Brands also stated that during the quarter, they recognized pre-tax charges of $35.5 Million that affected net income.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-will-ayi-stock-price-rise-toward-185-level-strong"><strong>Will AYI Stock Price Rise Toward $185 Level?</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="591" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74-1024x591.png" alt="Acuity Brands (AYI) Stock: Why Did AYI Stock Price Shoot Up?" class="wp-image-173555" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74-1024x591.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74-300x173.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74-768x443.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74-750x433.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74-1140x658.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-74.png 1468w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: AYI Stock Price By <a href="https://www.tradingview.com/x/dyQKmlCl/" rel="noopener noreferrer nofollow">TradingView</a>.
  </figcaption>
 </figure>
</div>
<p>The <a href="https://www.thecoinrepublic.com/2023/10/03/waste-connection-wcn-stock-should-investor-retain-wcn-stock/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> has advanced above 20, 50,100, and 200-day exponential moving averages, indicating bullish momentum. The Chaikin money flow score also witnessed a rise on the last trading day from -0.16 to -0.03, indicating a rise in the strength and capital inflow in the market.&nbsp;</p>
<p>If the bullish rally continues, it will soon cross the 0 mark. The relative strength index has entered in an overbought zone and stands at 73.75, implying a strong presence of bears in the market and chances of a short-term pullback.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong>&nbsp;</h4>
<p>The financial health of Acuity Brands is also robust with a net debt of $98 Million, which is 2% of the market capitalization (5.54 Billion). Traders should be cautious around $185.</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<p>Major support: $157.50 and $150</p>
<p>Major resistance: $185 and $201&nbsp;</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Acuity Brands (AYI) Stock: Why Did AYI Stock Price Shoot Up?

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