Albertsons Companies (NYSE:ACI) Receives “Outperform” Rating from Royal Bank of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $22.00 target price on the stock. Royal Bank of Canada’s price target suggests a potential upside of 12.53% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Albertsons Companies in a research report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. Tigress Financial restated a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. Morgan Stanley decreased their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Finally, Melius 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. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Albertsons Companies Trading Down 1.3 %

NYSE ACI opened at $19.55 on Tuesday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.22 and a current ratio of 0.90. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. The company’s 50-day simple moving average is $19.23 and its two-hundred day simple moving average is $19.31. Albertsons Companies has a one year low of $17.00 and a one year high of $23.47.

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

Institutional Investors Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACI. Signaturefd LLC increased its holdings in Albertsons Companies by 76.8% in the 3rd quarter. Signaturefd LLC now owns 4,181 shares of the company’s stock worth $77,000 after acquiring an additional 1,816 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Albertsons Companies during the second quarter worth $150,000. Headlands Technologies LLC grew its holdings in shares of Albertsons Companies by 2,243.9% during the second quarter. Headlands Technologies LLC now owns 8,977 shares of the company’s stock worth $177,000 after buying an additional 8,594 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Albertsons Companies during the third quarter worth $185,000. Finally, DGS Capital Management LLC purchased a new stake in shares of Albertsons Companies during the third quarter worth $199,000. Hedge funds and other institutional investors 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.