Royal Bank of Canada Has Lowered Expectations for Albertsons Companies (NYSE:ACI) Stock Price

Albertsons Companies (NYSE:ACI) had its price target cut by equities researchers at Royal Bank of Canada from $22.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 9.83% from the company’s current price.

A number of other research firms have also commented on ACI. Melius raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, October 21st. Tigress Financial reissued a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a report on Monday, October 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a research note on Friday, October 11th. Melius Research raised shares of 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. Finally, Evercore ISI boosted their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

Albertsons Companies Stock Performance

Shares of NYSE:ACI opened at $19.12 on Wednesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. The business’s fifty day moving average price is $18.85 and its two-hundred day moving average price is $19.39. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $23.47. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last posted its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $18.47 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that Albertsons Companies will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Albertsons Companies

A number of institutional investors have recently made changes to their positions in the stock. DGS Capital Management LLC bought a new stake in Albertsons Companies in the third quarter valued at approximately $199,000. Synovus Financial Corp increased its position in shares of Albertsons Companies by 10.0% in the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after buying an additional 1,197 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its position in shares of Albertsons Companies by 8.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company’s stock valued at $5,929,000 after buying an additional 25,868 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Albertsons Companies by 12.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,612 shares of the company’s stock worth $441,000 after buying an additional 2,549 shares during the period. Finally, Toronto Dominion Bank grew its stake in Albertsons Companies by 42.8% in the third quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock valued at $879,000 after acquiring an additional 14,266 shares during the period. 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.