Acuity Brands, Inc Illuminates An Attractive Opportunity

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Acuity Brands Wobbles After Strong Q3 ResultsAcuity Brands (NYSE:AYI) has been in a downtrend for the last two quarters for no other reason than fear of slowing growth, tightening margins, and earnings weakness but those fears were overblown. The move downward was driven in large part by institutions that were selling heavily in the first quarter of the year. Now that the company has outperformed expectations for the first half of the year and given no indication of upcoming weakness we think there is a bottom in play. Not only do the results suggest a higher valuation is warranted but the ins…

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