Albertsons Companies (NYSE:ACI) Price Target Lowered to $19.00 at Morgan Stanley

Albertsons Companies (NYSE:ACI) had its price objective lowered by stock analysts at Morgan Stanley from $24.00 to $19.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 2.81% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Albertsons Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets lowered their price objective on shares of 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. Evercore ISI increased 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. Tigress Financial restated a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research report on Monday, October 21st. Finally, Melius Research raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.73.

Albertsons Companies Trading Down 0.2 %

Shares of ACI stock traded down $0.03 during mid-day trading on Wednesday, reaching $18.48. The stock had a trading volume of 16,713,764 shares, compared to its average volume of 3,106,508. The stock’s 50-day moving average price is $18.85 and its two-hundred day moving average price is $19.40. Albertsons Companies has a 52-week low of $17.00 and a 52-week high of $23.47. The firm has a market capitalization of $10.71 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The company 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 company earned $0.60 earnings per share. Albertsons Companies’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts expect that Albertsons Companies will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. DGS Capital Management LLC purchased a new position in Albertsons Companies during the 3rd quarter valued at about $199,000. Synovus Financial Corp grew its position in shares of Albertsons Companies by 10.0% in the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock worth $244,000 after buying an additional 1,197 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its position in shares of Albertsons Companies by 8.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company’s stock worth $5,929,000 after buying an additional 25,868 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Albertsons Companies by 12.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,612 shares of the company’s stock worth $441,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Albertsons Companies by 42.8% in the 3rd quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock worth $879,000 after purchasing an additional 14,266 shares in the last quarter. Hedge funds and other institutional investors 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.