William Blair analyst Ryan Merkel says Acuity Brands should meet Street earnings estimates for fiscal Q1 after the firm’s lighting activity moderated in line with expectations. In the latest lighting survey, pricing slowed to 2% versus 5% last quarter, and manufacturer price increases have stopped, Merkel tells investors in a research note. Channel feedback is that demand is "okay," with project delays due to switchgear, slowing stock business and more competitive pricing, adds the analyst. He sees "no alarm bells yet" despite slowing growth and price. Merkel keeps a Market Perform rating on Acuity Brands.
Published first on TheFly
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