Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Melius

Albertsons Companies (NYSE:ACI) was upgraded by analysts at Melius from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat.com reports. The firm presently has a $24.00 price objective on the stock. Melius’ price objective would indicate a potential upside of 29.38% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Melius Research assumed coverage on shares of Albertsons Companies in a report on Monday, September 23rd. They set a “hold” rating and a $19.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a report on Friday. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a report on Friday, October 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.58.

Albertsons Companies Price Performance

Shares of NYSE ACI opened at $18.55 on Monday. The company has a market capitalization of $10.74 billion, a PE ratio of 8.32, a PEG ratio of 1.02 and a beta of 0.48. 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 stock’s 50 day moving average price is $19.12 and its 200-day moving average price is $19.80. Albertsons Companies has a twelve month low of $17.80 and a twelve month high of $23.47.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data 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 return on equity of 56.01% and a net margin of 1.41%. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Albertsons Companies will post 2.25 EPS for the current year.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC raised its position in shares of Albertsons Companies by 4.4% in the third quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock worth $240,000 after buying an additional 544 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of Albertsons Companies by 3.6% in the 2nd quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock valued at $322,000 after acquiring an additional 565 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Albertsons Companies by 1.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 51,025 shares of the company’s stock valued at $1,094,000 after acquiring an additional 864 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Albertsons Companies by 1.6% during the 2nd quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after acquiring an additional 933 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Albertsons Companies by 2.2% during the first quarter. 1832 Asset Management L.P. now owns 50,991 shares of the company’s stock worth $1,093,000 after purchasing an additional 1,121 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

About Albertsons Companies

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.