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

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $24.00 price target on the stock. Telsey Advisory Group’s price target points to a potential upside of 18.59% from the stock’s previous close.

A number of other analysts have also recently issued reports on ACI. UBS Group reduced their target price on shares of Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Albertsons Companies in a research report on Wednesday, April 16th. JPMorgan Chase & Co. set a $31.00 price target on shares of Albertsons Companies in a research report on Tuesday, July 8th. Tigress Financial reissued a “buy” rating and issued a $28.00 price target on shares of Albertsons Companies in a research report on Tuesday, July 8th. Finally, Evercore ISI dropped their price target on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Albertsons Companies Stock Down 1.4%

ACI stock opened at $20.24 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.82 and a debt-to-equity ratio of 2.17. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $23.20. The firm’s 50-day simple moving average is $21.71 and its 200 day simple moving average is $21.21. The stock has a market cap of $11.65 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.08 and a beta of 0.44.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $24.88 billion for the quarter, compared to analysts’ expectations of $24.68 billion. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, sell-side analysts predict that Albertsons Companies will post 2.14 EPS for the current year.

Insider Activity

In other news, EVP Omer Gajial sold 47,303 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $21.46, for a total value of $1,015,122.38. Following the completion of the sale, the executive vice president owned 162,569 shares of the company’s stock, valued at approximately $3,488,730.74. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC acquired a new position in Albertsons Companies in the fourth quarter valued at about $11,800,000. Allspring Global Investments Holdings LLC acquired a new position in Albertsons Companies in the first quarter valued at about $1,420,000. Bessemer Group Inc. acquired a new position in Albertsons Companies in the first quarter valued at about $40,000. III Capital Management acquired a new position in Albertsons Companies in the fourth quarter valued at about $5,892,000. Finally, Bayesian Capital Management LP acquired a new position in Albertsons Companies during the fourth quarter worth about $232,000. 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.