Royal Bank of Canada Reiterates “Outperform” Rating for Albertsons Companies (NYSE:ACI)

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential upside of 4.81% from the company’s previous close.

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

Albertsons Companies Stock Down 4.2 %

ACI stock opened at $21.95 on Thursday. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.20. 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 firm has a 50-day simple moving average of $20.99 and a 200-day simple moving average of $19.76. The stock has a market capitalization of $12.71 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.92 and a beta of 0.47.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The company had revenue of $18.77 billion during the quarter, compared to analyst estimates of $18.82 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. Albertsons Companies’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. Equities analysts forecast that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albertsons Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC increased its holdings 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 purchasing an additional 700 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Albertsons Companies by 225.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after buying an additional 959 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Albertsons Companies by 316.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after buying an additional 1,358 shares in the last quarter. WealthCollab LLC raised its holdings 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 buying an additional 1,454 shares during the period. Finally, Ossiam acquired a new position in Albertsons Companies during the 4th quarter worth about $93,000. 71.35% of the stock is 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.