Albertsons Companies’ (ACI) Outperform Rating Reaffirmed at Royal Bank of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 9.39% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Citigroup began coverage on Albertsons Companies in a research note on Friday, January 24th. They set a “buy” rating and a $26.00 target price for the company. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Friday, April 11th. UBS Group dropped their target price on shares of Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $26.00 price target on shares of Albertsons Companies in a research report on Tuesday, February 4th. Finally, Evercore ISI raised their price objective on Albertsons Companies from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Albertsons Companies Stock Up 5.4 %

NYSE ACI traded up $1.09 on Wednesday, hitting $21.03. 4,301,028 shares of the stock were exchanged, compared to its average volume of 4,226,184. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $23.20. The company has a 50-day moving average price of $21.17 and a 200-day moving average price of $19.92. The company has a market cap of $12.18 billion, a PE ratio of 11.81, a PEG ratio of 1.92 and a beta of 0.47. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, April 15th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The firm had revenue of $18.80 billion during the quarter, compared to the consensus estimate of $18.78 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Sell-side analysts anticipate that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Institutional Trading of Albertsons Companies

Several hedge funds have recently made changes to their positions in ACI. Private Management Group Inc. boosted its holdings in Albertsons Companies by 2.0% in the 4th quarter. Private Management Group Inc. now owns 2,196,484 shares of the company’s stock valued at $43,138,000 after purchasing an additional 43,532 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Albertsons Companies in the fourth quarter valued at approximately $746,000. ORBA Wealth Advisors L.L.C. acquired a new position in Albertsons Companies during the fourth quarter worth $433,000. Synergy Asset Management LLC purchased a new position in Albertsons Companies in the fourth quarter worth $248,000. Finally, Econ Financial Services Corp purchased a new stake in shares of Albertsons Companies during the 4th quarter worth $499,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company’s food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. It also manufactures and processes food products for sale in stores.