Acuity Brands, Inc. ( AYI ) saw a big move last session, as the company's shares fell by nearly 15% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. The stock had gained about 8% from Jun 12 to Jun 30, but then it dropped sharply by about 15%.
The lighting products company has seen a flat record when it comes to current year estimate revisions over the past few weeks (0 increases, 0 decreases), and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
AYI currently has a Zacks Rank #3 (Hold).
Investors interested in the construction sector may consider better-ranked stocks like Armstrong World Industries, Inc.
), Gibraltar Industries, Inc.
) and Tutor Perini Corporation
). All these stocks carry a Zacks Rank #1 (Strong Buy).
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportACUITY BRANDS (AYI): Free Stock Analysis ReportGIBRALTAR INDUS (ROCK): Free Stock Analysis ReportARMSTRONG WORLD (AWI): Free Stock Analysis ReportTUTOR PERINI CP (TPC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research