Evercore ISI Forecasts Strong Price Appreciation for Albertsons Companies (NYSE:ACI) Stock

Albertsons Companies (NYSE:ACI) had its price target hoisted by investment analysts at Evercore ISI from $18.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential downside of 1.66% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Melius raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, October 21st. Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a research report on Friday, October 18th. BMO Capital Markets cut their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 16th. Tigress Financial reaffirmed a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research report on Monday, October 21st. Finally, Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.25.

Albertsons Companies Stock Performance

Shares of ACI opened at $19.32 on Tuesday. The stock has a 50-day simple moving average of $18.80 and a 200-day simple moving average of $19.46. 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 stock has a market capitalization of $11.19 billion, a PE ratio of 11.29, a PEG ratio of 1.14 and a beta of 0.51. Albertsons Companies has a 1 year low of $17.80 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, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, analysts predict that Albertsons Companies will post 2.13 earnings per share for the current fiscal year.

Institutional Trading of Albertsons Companies

A number of institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Albertsons Companies by 88.1% during the third quarter. FMR LLC now owns 16,841,582 shares of the company’s stock worth $311,232,000 after purchasing an additional 7,887,688 shares in the last quarter. Geode Capital Management LLC boosted its position in Albertsons Companies by 7.0% during the third quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock worth $167,229,000 after purchasing an additional 592,711 shares in the last quarter. State Street Corp raised its holdings in shares of Albertsons Companies by 1.7% in the third quarter. State Street Corp now owns 8,615,413 shares of the company’s stock worth $159,213,000 after acquiring an additional 141,933 shares during the last quarter. Parsifal Capital Management LP raised its holdings in shares of Albertsons Companies by 22.8% in the third quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock worth $157,946,000 after acquiring an additional 1,585,899 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Albertsons Companies by 25.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock worth $114,033,000 after acquiring an additional 1,239,978 shares during the last quarter. 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.