Acuity falls after William Blair downgrades on growth concerns

** Lighting products maker Acuity Brands' shares AYI.N fall 3.1% to $309

** Brokerage William Blair downgrades the stock to "market perform" from "outperform", citing weak market conditions, slower customer spending and concerns that higher interest rates could weigh on co's growth outlook

** Says market conditions remain sluggish, hurt by project delays, rising costs and labor shortages; believes co's recent strong performance may be harder to sustain given all these tailwinds

** Five of eight brokerages rate the stock "buy" or higher and three "hold"; median PT is $390 - LSEG-compiled data

** Including session's move, stock down 14.1% YTD