Morgan Stanley Issues Pessimistic Forecast for Albertsons Companies (NYSE:ACI) Stock Price

Albertsons Companies (NYSE:ACI) had its price objective reduced by investment analysts at Morgan Stanley from $24.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 0.63% from the company’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a report on Friday, October 18th. BMO Capital Markets lowered their price objective 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. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 price target on shares of Albertsons Companies in a report on Friday, October 11th. Evercore ISI raised their price objective on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Finally, Tigress Financial reaffirmed a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Albertsons Companies has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

Albertsons Companies Trading Up 4.9 %

NYSE:ACI opened at $19.12 on Wednesday. The company has a market cap of $11.08 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.12 and a beta of 0.51. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.47. 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 stock’s fifty day moving average price is $18.85 and its two-hundred day moving average price is $19.39.

Albertsons Companies (NYSE:ACI) last issued its earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping the consensus estimate 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 49.50% and a net margin of 1.25%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. As a group, analysts expect that Albertsons Companies will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Albertsons Companies

Large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Albertsons Companies by 88.1% in 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 during the last quarter. Parsifal Capital Management LP boosted its position in Albertsons Companies by 22.8% during the 3rd quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock valued at $157,946,000 after buying an additional 1,585,899 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Albertsons Companies by 25.1% in the 3rd 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. Anson Funds Management LP increased its position in shares of Albertsons Companies by 973.0% in the third quarter. Anson Funds Management LP now owns 1,190,165 shares of the company’s stock valued at $21,994,000 after acquiring an additional 1,079,246 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Albertsons Companies by 38.7% during the second quarter. Bank of New York Mellon Corp now owns 3,426,264 shares of the company’s stock valued at $67,669,000 after acquiring an additional 956,744 shares during the last quarter. 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.