Albertsons Companies (NYSE:ACI) Stock Rating Upgraded by Wells Fargo & Company

Albertsons Companies (NYSE:ACI) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, MarketBeat.com reports. The firm presently has a $23.00 price target on the stock, up from their previous price target of $22.00. Wells Fargo & Company‘s price objective points to a potential upside of 21.05% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets reduced their price objective on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday. Melius Research began coverage on Albertsons Companies in a report on Monday, September 23rd. They set a “hold” rating and a $19.00 price objective for the company. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a report on Friday, October 11th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.91.

Albertsons Companies Stock Up 3.1 %

ACI opened at $19.00 on Friday. The business has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $19.82. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 2.67. The company has a market cap of $11.00 billion, a PE ratio of 8.52, a P/E/G ratio of 1.02 and a beta of 0.48. Albertsons Companies has a 52 week low of $17.80 and a 52 week high of $23.47.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a return on equity of 56.01% and a net margin of 1.41%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. As a group, research analysts anticipate that Albertsons Companies will post 2.25 EPS for the current year.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors have recently made changes to their positions in the stock. Bfsg LLC lifted its position in Albertsons Companies by 12.9% in the third quarter. Bfsg LLC now owns 19,065 shares of the company’s stock worth $352,000 after purchasing an additional 2,175 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Albertsons Companies during the 3rd quarter valued at $9,023,000. Affinity Wealth Management LLC lifted its position in shares of Albertsons Companies by 167.8% during the 3rd quarter. Affinity Wealth Management LLC now owns 76,624 shares of the company’s stock valued at $1,416,000 after acquiring an additional 48,010 shares during the last quarter. Retirement Planning Group LLC acquired a new stake in shares of Albertsons Companies during the 3rd quarter valued at $223,000. Finally, Samson Rock Capital LLP acquired a new stake in shares of Albertsons Companies during the 3rd quarter valued at $3,419,000. 71.35% of the stock is owned by 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.