Albertsons Companies (NYSE:ACI) Upgraded by Melius Research to Buy

Albertsons Companies (NYSE:ACI) was upgraded by equities research analysts at Melius Research from a “hold” rating to a “buy” rating in a report issued on Monday, Benzinga reports. The firm presently has a $24.00 price target on the stock. Melius Research’s price target indicates a potential upside of 26.12% from the company’s previous close.

Several other brokerages have also issued reports on ACI. Telsey Advisory Group restated a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research note on Friday, October 11th. Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday. BMO Capital Markets cut their target price on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a report on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.58.

Albertsons Companies Stock Up 0.2 %

NYSE ACI traded up $0.03 on Monday, reaching $19.03. The company had a trading volume of 1,333,763 shares, compared to its average volume of 3,026,309. Albertsons Companies has a 52-week low of $17.80 and a 52-week high of $23.47. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 2.67. The stock has a market capitalization of $11.02 billion, a P/E ratio of 8.54, a P/E/G ratio of 1.02 and a beta of 0.48. The company’s fifty day moving average is $19.13 and its 200 day moving average is $19.82.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm 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 56.01% and a net margin of 1.41%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts anticipate that Albertsons Companies will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albertsons Companies

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in Albertsons Companies by 41.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,616 shares of the company’s stock valued at $175,000 after acquiring an additional 2,250 shares during the period. Eagle Rock Investment Company LLC grew its holdings in shares of Albertsons Companies by 31.8% in the first quarter. Eagle Rock Investment Company LLC now owns 58,148 shares of the company’s stock worth $1,247,000 after purchasing an additional 14,013 shares during the last quarter. TrueMark Investments LLC purchased a new position in shares of Albertsons Companies in the first quarter worth $1,147,000. Wealth Enhancement Advisory Services LLC raised its holdings in Albertsons Companies by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock valued at $928,000 after buying an additional 2,144 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Albertsons Companies by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,123 shares of the company’s stock worth $14,818,000 after acquiring an additional 1,936 shares during the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

About Albertsons Companies

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.