Acuity Brands, Inc. (AYI - Free Report) recently introduced a cloud-based software solution named Atrius Assets to deliver real-time indoor asset tracking and management services.
The software includes Atrius Admin web-based tools, Atrius LiveView real-time viewer along with RESTful Application Programming Interfaces (APIs). The service enables the AtriusTM-Ready Sensory Network and Bluetooth Low Energy technology.
The service offers a complete solution to users helping them to locate assets, analyze movement and monitor asset telemetry information.
The move underscores the company’s commitment to continually expand portfolio of innovative Internet of things (IoT) solutions and maintain its market position. Meanwhile, the company’s shares have gained 9.1%, outperforming the industry’s rise of 4.7% in six months’ time.
Innovative Solutions to Drive Growth
Acuity Brands, a leading provider of lighting and asset management solutions, has a diversified portfolio of innovative lighting control solutions and energy-efficient luminaries. The company is consistently working on smart business strategies to achieve sustainable growth in sales and earnings.
Notably, its Atrius-based IoT luminaires and solutions in the retail segment are leveling up to the industry standard. Moreover, the company is focused on expanding these solutions in other channels in the near future.
In fact, net sales growth of 11% in the fourth quarter of fiscal 2018 was robust and primarily driven by volume growth in its Contractor Select portfolio, Atrius-enabled luminaires and Holophane solutions. Overall, the company saw solid growth in most channels and geographies generated quarterly net sales in excess of $1 billion for the first time. Sales volume in the fourth quarter grew approximately 13% year over year, backed by continued efforts to expand customer base along with the introduction of products and solutions.
The company believes that the lighting and lighting-related industry along with building automation systems will see growth over the next decade.
Zacks Rank & Stocks to Consider
Acuity Brands currently carries a Zacks Rank #3 (Hold).
A few better top-ranked stocks in the Construction sector are Great Lakes Dredge & Dock Corporation (GLDD - Free Report) , Altair Engineering Inc. (ALTR - Free Report) and EMCOR Group, Inc. (EME - Free Report) . While Great Lakes sports a Zacks Rank #1 (Strong Buy), Altair Engineering and EMCOR carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Great Lakes’ 2018 earnings are expected to increase 111%.
Altair Engineering has an expected earnings growth rate of 23.1% for the current year.
EMCOR has a projected earnings growth rate of 20% for the current year.
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