Albertsons Companies (NYSE:ACI) Given Outperform Rating at Royal Bank of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $23.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 0.52% from the stock’s current price.

A number of other brokerages also recently issued reports on ACI. Morgan Stanley decreased their price target on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Bank of America assumed coverage on shares of Albertsons Companies in a research note on Friday, December 13th. They issued a “neutral” rating and a $22.00 target price for the company. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price target on shares of Albertsons Companies in a research report on Tuesday, March 11th. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, February 4th. Finally, UBS Group reduced their target price on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Albertsons Companies Stock Up 2.0 %

Shares of ACI traded up $0.45 during mid-day trading on Thursday, hitting $22.88. 2,493,302 shares of the company traded hands, compared to its average volume of 4,056,819. The company has a market capitalization of $13.26 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.92 and a beta of 0.50. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. The business has a 50 day moving average of $20.88 and a 200 day moving average of $19.72. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.16.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. During the same quarter in the prior year, the business posted $0.79 EPS. Albertsons Companies’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Albertsons Companies will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Albertsons Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACI. Eagle Bay Advisors LLC grew its position in Albertsons Companies by 108.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Albertsons Companies by 225.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after acquiring an additional 959 shares in the last quarter. WealthCollab LLC increased its position in shares of Albertsons Companies by 446.0% in the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock valued at $35,000 after purchasing an additional 1,454 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after purchasing an additional 1,358 shares in the last quarter. Finally, Ossiam acquired a new stake in shares of Albertsons Companies in the 4th quarter valued at $93,000. 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.