Royal Bank of Canada Cuts Albertsons Companies (NYSE:ACI) Price Target to $21.00

Albertsons Companies (NYSE:ACI) had its price target decreased by analysts at Royal Bank of Canada from $22.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 12.96% from the company’s current price.

Several other equities analysts have also issued reports on ACI. Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, October 21st. Telsey Advisory Group restated a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a research note on Friday, October 11th. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Melius Research upgraded shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, October 21st. Finally, BMO Capital Markets reduced their price objective on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.14.

Albertsons Companies Stock Performance

Shares of NYSE ACI traded up $0.08 during trading hours on Wednesday, hitting $18.59. 9,906,626 shares of the company’s stock were exchanged, compared to its average volume of 3,062,545. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.12 and a beta of 0.51. The company’s 50-day moving average price is $18.85 and its 200-day moving average price is $19.40. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. Albertsons Companies’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, sell-side analysts expect that Albertsons Companies will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC raised its stake in shares of Albertsons Companies by 4.4% in the third quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock worth $240,000 after acquiring an additional 544 shares during the last quarter. Verus Capital Partners LLC lifted its holdings in Albertsons Companies by 3.6% during the 2nd quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock worth $322,000 after buying an additional 565 shares in the last quarter. CIBC Asset Management Inc boosted its position in Albertsons Companies by 4.9% in the 3rd quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock valued at $357,000 after buying an additional 895 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Albertsons Companies by 1.6% in the 2nd quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after buying an additional 933 shares during the period. Finally, MRP Capital Investments LLC raised its position in shares of Albertsons Companies by 2.7% during the second quarter. MRP Capital Investments LLC now owns 45,055 shares of the company’s stock worth $890,000 after acquiring an additional 1,185 shares during the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

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.