Albertsons Companies (NYSE:ACI) Given “Outperform” Rating at Telsey Advisory Group

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reissued by Telsey Advisory Group in a report released on Friday,Benzinga reports. They presently have a $26.00 price objective on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 21.64% from the company’s current price.

Several other brokerages have also recently issued reports on ACI. UBS Group dropped their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Evercore ISI upped their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Tuesday, March 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Albertsons Companies in a report on Thursday, April 3rd. Citigroup initiated coverage on Albertsons Companies in a research note on Friday, January 24th. They set a “buy” rating and a $26.00 target price for the company. Finally, Bank of America began coverage on shares of Albertsons Companies in a report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Albertsons Companies presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Albertsons Companies Trading Up 0.4 %

Shares of NYSE:ACI opened at $21.38 on Friday. The business’s 50 day moving average price is $21.14 and its 200-day moving average price is $19.87. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.20. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.92 and a beta of 0.47. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Albertsons Companies by 1.7% during the third quarter. State Street Corp now owns 8,615,413 shares of the company’s stock worth $159,213,000 after purchasing an additional 141,933 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Albertsons Companies during the 3rd quarter worth about $324,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Albertsons Companies by 88.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 206,691 shares of the company’s stock worth $3,820,000 after acquiring an additional 97,244 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Albertsons Companies by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock valued at $167,229,000 after acquiring an additional 592,711 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Albertsons Companies by 42.8% during the 3rd quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock worth $879,000 after acquiring an additional 14,266 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.