The Lights Are Shining Brightly on This 52-Week High. Too Late to Buy?

Atlanta-based Acuity Brands (AYI) is a world leader in lighting and lighting controls for commercial and residential applications. I've been a company fan for years, recommending its stock several times. However, until its recent surge over the past year, its stock's performance has often been underwhelming. 

So, the fact that it hit a 52-week and all-time high of $303.04 on Tuesday makes me really happy for long-time shareholders. They can now boast that it has an annualized total return of 20.1% over the past three years, double the Morningstar U.S. Market Total Return Index (97% of the U.S. investable universe) over this period.