Telsey Advisory Group Reiterates “Outperform” Rating for Albertsons Companies (NYSE:ACI)

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They presently have a $26.00 price target on the stock. Telsey Advisory Group’s price objective points to a potential upside of 24.67% from the company’s previous close.

A number of other brokerages have also weighed in on ACI. Citigroup started coverage on shares of Albertsons Companies in a report on Friday, January 24th. They issued a “buy” rating and a $26.00 price target for the company. Evercore ISI boosted their target price on Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Bank of America began coverage on Albertsons Companies in a report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research report on Tuesday, February 4th. Finally, Morgan Stanley cut their target price 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. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Albertsons Companies has an average rating of “Moderate Buy” and an average price target of $23.21.

Albertsons Companies Price Performance

Albertsons Companies stock opened at $20.86 on Tuesday. The business’s fifty day moving average is $20.23 and its two-hundred day moving average is $19.46. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. The firm has a market cap of $12.08 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.92 and a beta of 0.50. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $21.67.

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

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Albertsons Companies during the fourth quarter worth about $1,882,000. Mackenzie Financial Corp bought a new position in shares of Albertsons Companies during the 4th quarter valued at about $518,000. Public Employees Retirement System of Ohio acquired a new position in shares of Albertsons Companies in the 4th quarter valued at approximately $3,581,000. Pacific Point Advisors LLC acquired a new position in shares of Albertsons Companies in the 4th quarter valued at approximately $248,000. Finally, Voloridge Investment Management LLC increased its stake in Albertsons Companies by 3,052.0% during the 4th quarter. Voloridge Investment Management LLC now owns 799,966 shares of the company’s stock worth $15,711,000 after purchasing an additional 774,586 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.