Albertsons Companies (NYSE:ACI) Price Target Lowered to $22.00 at Evercore ISI

Albertsons Companies (NYSE:ACI) had its price target cut by Evercore ISI from $23.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 2.64% from the stock’s previous close.

ACI has been the topic of a number of other research reports. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price target on shares of Albertsons Companies in a research report on Tuesday, February 4th. UBS Group lowered their price objective on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup assumed 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 reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research report on Friday, April 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Albertsons Companies in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.36.

Albertsons Companies Price Performance

ACI stock traded up $0.29 during midday trading on Thursday, reaching $21.44. 1,447,313 shares of the stock were exchanged, compared to its average volume of 4,254,779. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The stock has a market capitalization of $12.42 billion, a PE ratio of 12.01, a P/E/G ratio of 1.92 and a beta of 0.47. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.20. The company has a fifty day moving average price of $21.17 and a 200 day moving average price of $19.93.

Albertsons Companies (NYSE:ACI) last announced its earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $18.80 billion during the quarter, compared to analyst estimates of $18.78 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. During the same period last year, the company earned $0.54 EPS. As a group, analysts expect that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ORBA Wealth Advisors L.L.C. boosted its stake in shares of Albertsons Companies by 16.5% in the 1st quarter. ORBA Wealth Advisors L.L.C. now owns 25,702 shares of the company’s stock worth $565,000 after buying an additional 3,647 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Albertsons Companies by 1,050.7% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 653,929 shares of the company’s stock valued at $14,380,000 after buying an additional 597,101 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Albertsons Companies by 93.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,245 shares of the company’s stock worth $3,502,000 after acquiring an additional 76,859 shares during the period. Fifth Third Bancorp increased its holdings in Albertsons Companies by 54.8% in the 1st quarter. Fifth Third Bancorp now owns 2,997 shares of the company’s stock worth $66,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Focus Financial Network Inc. bought a new stake in Albertsons Companies in the 1st quarter valued at about $205,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

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.